Bank lending rate cut hinges on monetary policy action: SBI MD V Tonse

Quick Summary:

In the October monetary policy review, the RBI changed its stance to neutral from "withdrawal of accommodation," raising hopes for rate action.

Banks will also monitor the RBI’s stance on liquidity and rate action, which depends on how inflation behaves, Niyogi added.

The net interest margin (NIM) for scheduled commercial banks in India declined by 21 basis points year-on-year to 2.62 per cent in the July-September period of 2024.

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Article Details

Category: BusinessFinance

Markets: India

Topics: V Tonse SBI Bank rates Finance Minister Nirmala Sitharaman Monetary policy

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News Sentiment: Negative

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Article Type: News Report

Published On: 2024-11-19 @ 20:03:46 (10 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 580 words

Reading Time: 4 minutes read

Sentences: 24 lines

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Copyright Owner: © Business Standard

News ID: 23699942

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