Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.146)

146. 

SBI reduces benchmark lending rate by how much basis points with effect from 10 May?

[A]. 5
[B]. 10
[C]. 15
[D]. 20

Answer: Option C

Explanation:

State Bank of India (SBI) slashed the benchmark lending rate by 15 basis points (bps). With the newly announced cut, the MCLR (Marginal Cost of Funds based Lending Rate) reduced to 7.25%, from 7.40% with effect from 10 of May.

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