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RBI governor confident that banks will reduce interest rates!

Posted on: 05/Mar/2015 6:28:14 PM
With the reaction in interest rates for short-term loans announced, Reserve Bank of India Governor, Mr. Raghuram Rajan, expressed confidence that this benefit will reach the common citizen from April.

RBI has reduced interest rates 2 times in the last 3 months. The governor expressed that this benefit should be extended to the common citizen by reduction in their interest rates.

When RBI reduced interest rates on 15th January, only 2 banks extended this benefit to their account holders.

With the second reduction recently announced by RBI, the governor has expressed his expectations.

The governor also informed that RBI would analyse whether there are any difficulties in the formalities of extending these benefits to the common citizen.