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Banks should pass rate cuts to end-users, says experts- The News
Posted
October 5, 2016
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October 5, 2016
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10:49Now PlayingThe new man on Mint Street did not disappoint people. In his maiden credit policy, RBI Governor Urjit Patel slashed repo rate by 0.25%. Repo rate is the rate at which banks borrow from the RBI now stands at 6.25%, the lowest in 6 years. The banks that can access cheaper money should make home loans cheaper. However, that has not been the case, as the RBI Governor himself observed that transmission in banks borrowing and lending has been indeed lesser.
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