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The Managing Director and Chief Executive Officer of Karnataka Bank Ltd, P Jayarama Bhat, has said that the Reserve Bank of India has delivered the much expected 25 basis point cut in the repo rates.
Bhat said the statement on inflationary expectations, lower monsoon predictions and upward expected movements in oil prices will pose uncertainty in future actions on rates. “Any future cuts in rates are more data dependent,” he said.
He said the Karnataka Bank has already lowered the base rate by 25 basis points with effective from June 1.
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