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Vinson Kurian

Thiruvananthapuram, Oct. 10 The rate cuts announced by State Bank of India do not surprise given the context in which the enabling decision has been taken, says Mr Ananda Bhoumik, Senior Director, Fitch Ratings, India.

While it is safe to assume that the lag in loan growth during the first half-year could well have spurred SBI to go the whole hog to peg it lower, the festive season may have clearly precipitated it, Mr Bhoumik told Business Line. Inflation expectations could also have influenced the decision.

SBI may also have found the unexpected cuts announced earlier this month by the US Fed hard to ignore.

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