The officials asked not to be identified. A Finance Ministry spokesman did not immediately respond to requests for comment.
Home, auto loans to get cheaper from October.
While that controversy is real, it can wait for another day.
Allahabad Bank also cut the rate of interest on retail term deposits by 10 bps across all buckets in more than 1 year effective September 1.
In terms of the framework on LR put in place by RBI, banks have been monitored against an indicative LR of 4.5 pc.
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