![]() ![]() Policy transmission has been faster pace since the pandemic, according to the report, which also said in the 19-month period prior to the onset of the pandemic, the benchmark policy was lowered by 135 bps, but lenders lowered their rates only by 15 basis points between March 2019 and March 20 as reflected in the weighted average lending rates on outstanding loans of commercial banks. The Reserve Bank of India has, however, reduced its benchmark repo rate by 115 bps during this one-year period and also enhanced liquidity in the system. Private lenders take the leadįor private lenders, however, the fall has been to the tune of 109 bps, for public sector banks the dip is 85 bps and 187 bps for the foreign banks operating in India, the report said. ![]() According to the RBI data, weighted average lending rates for outstanding rupee loans of commercial banks fell 96 bps between March 2020 and October 21.
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