EMIs to Fall as SBI Cuts Lending Rate

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Mumbai: The country’s biggest lender State Bank of India or SBI cut its base rate, or minimum lending rate, by 0.15 per cent to 9.85 per cent, after Reserve Bank of India (RBI) chief Raghuram Rajan on Tuesday pushed banks to lower their lending rates.
The SBI rate cut is effective from April 10. Other banks are also expected to soon follow the lead of SBI in lowering rates.

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