RBI SLASHES THE INTEREST RATE !!!!!!!!!!!!


The Reserve Bank of India`s Governor Shri. Raghuram Rajan, today, cut the benchmark repo rate by 50 basis points to a 4-1/2-year low of 6.75 per cent in a surprise move.

Finance Minister ask Banks to reduce interest rates on loans


THE FINANCE MINISTER HAS ASKED THE BANKS TO PASS ON THE BENEFIT OF REDUCED INTEREST RATES TO BORROWERS, HE WAS REVIEWING THE ANNUAL PERFORMANCE OF PUBLIC SECTOR BANKS FOR THE YEAR 2014-15, THE BORROWERS MAY GET THE BENEFIT OF REDUCED INTEREST FROM 01-7-2015.