ICICI Bank has launched a new card for the super affluent segment and the Bank’s wealth...
“We are on the verge of reducing rates for SMEs,” SBI chairman Pratip Chaudhuri said
State Bank of India (SBI) said it will cut lending rates on loans given to small and medium enterprises (SME) this month.
“We are on the verge of reducing rates for SMEs. If that happens, some lending rates will be reduced by 1%-2%. So, as we get a greater sense and certainty about liquidity we will cut the rates in all likelihood by April,” SBI chairman Pratip Chaudhuri said.
Currently, the lending rate for SME sector varies from 12.5% to 17%.
Base rate or the minimum lending rate of SBI is currently at 10%.
In February, SBI slashed education loan rate by up to 1%.
In a move that would help a large number of home loan customers to reduce their interest...