For Quick Alerts
For Daily Alerts

Banks To Pass On Interest Rate Cuts: Finance Minister


All banks have agreed that they will pass on any interest rate cuts through the MCLR reduction announced by the monetary policy committee. "People were saying that the benefit of rate reductions don't reach them at all, or reaches in trickle. There was an across the board grievance, " Finance Minister stated.

Banks To Pass On Interest Rate Cuts: Finance Minister

Banks have also decided to launch repo rate-linked loan products, the finance Minister stated.

Banks have also decided to launch repo-rate linked products, said Finance and Corporate Affairs Minister Nirmala Sitharaman.

Banks will issue a one-time settlement policy to benefit small enterprises and retail borrowers to settle their loan overdues. "This would be done through check box approach and not remain pending for approval."

Read more about: interest rates banks
Story first published: Friday, August 23, 2019, 18:04 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more