SBI to slash loan rates by
25-50 bps for exporters
The country's largest bank, the
State Bank of India (SBI), is to slash interest rates on loans for exporters by
25-50 basis points (bps), a senior official said.
He said that the new rates may
come into effect immediately after the bank’s asset liability committee
meeting scheduled for June 23.
The latest move has come on the
back of the Reserve Bank of India’s (RBI) decision on June 18 to raise the
export refinancing limits of banks to 50 per cent in order to improve liquidity
in the system. Currently, the export credit refinance (ECR) limit is pegged at
15 per cent of the rupee export credit eligible for refinance as at the end of
the second preceding fortnight.
Analysts estimate that the increase in
refinancing limit could provide additional liquidity of Rs 30,000 crore to the
Source : Exim
News Service - Mumbai, June 21