Impact of Base Rate Cut on Home LoansĀ is the hot topic these days. RBI surprised twice by out of cycle Repo Rate cuts of 25 basis points each or 0.25%, Banks were reluctant to cut Base Rate. Despite the public displeasure of both RBI and the Govt, Banks stood firm on their stand. As i highlighted in my post that RBI is King without Kingdom, a very little can be done by RBI in this regard. Rather i will say, its a cartelization similar to that of Telecom and Airline Companies. Only 2 banks i.e. Union Bank of India and United Bank of India cut the base rate to benefit customers. As these banks ... Read More
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