Rate cut may not happen across board but EMIs to fall: Bankers
The Reserve Bank today slashed the short term lending rate sharply by 0.50 per cent to 8 per cent, signaling banks to cut rates. However, bankers feel that the rate cut may not be across the board. Pratip Chaudhuri, Chairman, State Bank of India said that credit growth can be achievable. Chanda Kochhar, MD and CEO, ICICI Bank said that a cut in deposit rate is required. "Customers can expect EMIs to fall over the time," she said.
