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Take for instance, The State Bank of India (SBI) country’s largest lender slashed its lending rate by 0.40 per cent. The new rate will stand at 9.30 per cent from 5 October onward.

RBI Governor Raghuram Rajan today said there is a need for banks to cut their lending rates anticipating the benefits which will be accruing from the central bank’s rate cuts. It hit a fresh two-year-low of Rs 65.45 against the dollar intraday on Thursday. SBI and other...

Speaking at the same time, ICICI Bank’s CEO Chanda Kochhar said on transmission of RBI’s policy rate cuts into lending rates that there can never be an equal cut at the bank’s end.