MUMBAI: SBI said on Tuesday it would set its base lending rate at 7.5 percent. The base rate would be effective from July 1.
The central bank introduced the new lending rate system or the base rate to ensure that larger borrowers do not bargain for cheaper rates from banks, distorting their asset liability management.
The central bank introduced the new lending rate system or the base rate to ensure that larger borrowers do not bargain for cheaper rates from banks, distorting their asset liability management.
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