Banks cut interest rates by RBI after reprimand

Mumbai: The Reserve Bank cut interest rates after extended pressure and private sector lender HDFC Bank, SBI, ICICI Bank cut its base rate of 0.15 to 0.25 percent from. Banks move house, shop and is paving the way for cheaper loans for vehicles. The major banks have cut rates soon after the second bank. Before the untimely rains impact on food prices, worried about losing its policy interest rate by the Reserve Bank monetary policy unchanged. The central bank on the industries and disappointed customers of banks to reach customers the benefits of previous cuts had increased pressure. Banks to cut interest rates, given the stance of the Reserve Bank Governor Raghuram Rajan had expressed deep resentment. The three major banks in the hourly base rate cut announced its debt.