Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
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.

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
  • After School Activities
    Started in 2009, SportyBeans is India’s most reputed non-competitive multi-sport..
    Locations looking for expansion Maharashtra
    Establishment year 2009
    Franchising Launch Date 2010
    Investment size Rs. 10lac - 20lac
    Space required 1200-1500 sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Maharashtra
  •   Run your own preschool & provide quality education by joining..
    Locations looking for expansion Goa
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 2lac - 5lac
    Space required 900
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater North Goa Goa
  • Luggage, Hand bags & Backpacks
    About Us: Welcome to Doubleu Bag. We are proud to introduce..
    Locations looking for expansion Rajasthan
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Jaipur Rajasthan
  • About Us: Cyber Security Academy (CSA) is a brand of SkillCube...
    Locations looking for expansion Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 1300
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
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