RBI cuts rates after 3 years, loans may get cheaper

April 17, 2012 11:11

The RBI has just announced cuts in short term lending rate by 0.5 per cent to 8 per cent and projects a growth rate for current fiscal at 7.3 per cent. This is the first rate cut in three years. CRR remains unchanged at 4.75 percent, and yes, loans may get cheaper.

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