The State Bank of India (SBI) has decided to cut interest rates on loans to small and medium enterprises. This announcement was made after a meeting of bank officials on April 21.
This decision comes in the wake of the Reserve Bank of India (RBI) recently cutting down its repo rate by 50 basis points.
The extent to which interest on SME loans will be cut is yet to be decided.
SBI has also launched a small and medium city credit centre in Hyderabad, to speed up the granting of loans to SMEs.
Source: Ciol.com