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Tuesday, April 17, 2012

RBI cuts lending rate; loans to become cheaper

After a gap of three years, Reserve Bank Governor D Subbarao today slashed short term lending rate by 0.50 per cent to 8 per cent, a move that will reduce the cost of home, auto and corporate loans. The reduction in the repo rate at which RBI lends to banks, has been prompted by deceleration in growth and softening of inflation.

Source:-PTI

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