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SBI turning customer friendly hints rate cut

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State Bank of India has allowed bankers to reduce interest rates and the banker’s conference with Finance Ministry was also arranged. After launching the Defense Salary Package, SBI Chairman said to www.propertykhazana.com that, “As far as the interest rates are concerned, we will take an outlook after the meeting. Inflation is reducing and adequate cash flow is forming a case in the rate cut and till it drops and extends it depends on the products mix and balance among asset and liability.” Finance Minister said that he will ask the banks for a ‘benign plan of action.’
Finance ministry source said to www.proeprtykhazana.com that, “Industry and business has been harmed by the cost of fiscal, the cost and pace with which finance can be acquired is a matter of concern. My first step is to meet the bankers and make them to carry more benign plan of action.” SBI decreased the standard lending rate by 80 bps to 13% in the starting of the year and concurrently, the bank was lending housing loans at a rate of 8.5%. Chairman of SBI said in a verbal communication to the www.propertykhazana.com that, the bank is also lending housing, personal and auto loans to Army workers at 28 bps lesser than the authentic rates. Bank is considering plans to start special two wheeler loan plan for the Army workers. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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