Not cheap debt reprimand imposed on the morning after the Reserve Bank of India's largest bank, State Bank of India (SBI) and the private sector, two major banks, ICICI, HDFC Bank and Axis Bank has cut interest rates for loans . The country's three largest banks cut interest rates after the Axis Bank 9.95 per cent to 0.20 per cent in the base rate has been. The rate was 10.15 per cent before the cut. The new rates will be effective from April 16 to April 13, ie. Earlier on Tuesday, after the RBI's rebuke ICICI Bank, SBI and HDFC Bank 0.25 per cent from 0.15 per cent base rate was reduced.
RBI had asked banks to cut interest rates from their banks should not be reluctant. After this first bank to cut lending rates by 0.15 per cent announced. The interest rate was 9.85 percent after the cut. According to a statement issued by SBI on Tuesday, April 10 new rates will apply. However, HDFC Bank 0.15 per cent reduction will be effective from April 13 after the new rates. New name to the list of cheap loans from ICICI Bank has also been added. ICICI Bank has announced to cut the base rate is 0.25 per cent. The new rate will be 9.75 per cent of the bank, which will be effective from April 10.
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