Money & Banking

Banks need to do more on transmitting repo rate cuts: RBI Governor

Our Bureau Mumbai | Updated on August 19, 2019 Published on August 19, 2019

RBI Governor Shaktikanta Das addressing the FIBAC 2019 meet, organised by FICCI in Mumbai on Monday.

The Reserve Bank of India expects banks to move faster on transmitting repo rate cuts to lending rates by linking the latter to an external benchmark, including the repo rate.

RBI Governor Shaktikanta Das said banks need to do more on cutting lending rates.

He appreciated that some banks had quickly announced plans to link their lending rate to the repo rate after the August 7 repo rate cut of 35 basis points.

Published on August 19, 2019
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