2012-04-21

SBI cut lending rates on SME and retail loans

State Bank of India (SBI) has decided to go for a cut in lending rates for loans to SMEs and retail sector including the loans for automobiles to benefit lenders in these segments.

SBI cut lending rates on SME and retail loans

State Bank of India (SBI) has decided to go for a cut in lending rates for loans to SMEs and retail sector including the loans for automobiles to benefit lenders in these segments.

"We have already started adjustment of rates on the loan side. Auto loan rates will be cut today or tomorrow. This will be flowed by a reduction in the rates on smaller ticket loans to small and medium enterprises,’’ said A Krishna Kumar, Managing Director, (SBI) to the media here on Saturday.

The move has come into effect post government’s decision for banks to reduce their lending rates following the 50 basis points cut in the repo rate by the Reserve Bank of India (RBI) on April 17.

“Bank’s net interest margins would not be impacted as about 47 per cent of deposits were under current accounts and savings accounts,” added Kumar over the probable impact of the rate cut on its profits.

For SBI, it is unlikely to reduce the base rate further as it already has the lowest figure among the banks.

ICICI Bank, IDBI Bank and Punjab National Bank are some of the banks who have already reduced their lending and deposit rates by 25 basis points.

Related opportunities
  • We Jan-Pro is a B2B housekeeping service provider with presence..
    Locations looking for expansion Maharashtra
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 50lakh - 1 Cr.
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Beauty & Wellness Training Institute
    The International MAKEUP MASTERY PROGRAM The UK International London Beauty School..
    Locations looking for expansion Uttar pradesh
    Establishment year 2023
    Franchising Launch Date 2024
    Investment size Rs. 30lakh - 50lakh
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bishrakh Uttar pradesh
  • Diet Supplimentary
    Pahal Nutrition started its journey in 2020. Our headquarter is located..
    Locations looking for expansion Haryana
    Establishment year 2020
    Franchising Launch Date 2021
    Investment size Rs. 30lakh - 50lakh
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Sonipat Haryana
  • At Fresh Knots, we believe that every flower carries a..
    Locations looking for expansion Karnataka
    Establishment year 2014
    Franchising Launch Date 2023
    Investment size Rs. 10lakh - 20lakh
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads