New Delhi: The Reserve Bank on Friday cut the repo rate by a historic 75 basis points. The RBI had also asked the banks to reach the customers as soon as possible. Today State Bank of India gave great relief to its customers. SBI has announced a 75 basis point cut in the interest rate.
The new interest rate will be applicable from April 1. The external benchmark linked lending rate (EBR) and repo linked lending rate (RLLR) have fallen by 0.75 per cent. Right now the EBR is 7.80 per cent which will come down to 7.05 per cent. Currently RLLR is 7.40 per cent which will come down to 6.65 per cent.
