RBI has already slashed the rate at which it lends to commercial banks by 135 basis points since January to boost the economy.
and there is a need to push the growth. That will, in my view, outweigh the consideration and in all likelihood, there may be a rate cut tomorrow," Kumar said.
But, those rate cuts have not fully been transmitted back to the economy, which has led many experts to question the effectiveness of the RBI's monetary policy. are struggling with large volumes of non-performing assets weighing on their balance sheets. That makes them hesitant to pass on the full benefits of a lower cost of borrowing to consumers.mandatory for banks to link certain categories of loans to an external benchmark system"All the retail loans now, as per the regulatory guidelines, they all have been linked to what we call external benchmark lending rate," Kumar said.
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