SBI cuts lending rate by 0.9%

Country’s largest lender State Bank of India (SBI)  has cut benchmark interest rate across various maturities by 0.9%, effective from 1st January  2017, a move that is expected to be shortly followed by other banks also.The bank has reduced marginal cost of funds based lending rate (MCLR) by 0.9% from 8.90% to 8% for 1-year tenure. 

So, let’s discuss some questions related to this post:
Q1. Country’s largest lender SBI cut’s benchmark interest rate how much percent,recently?
Ans1. 0.9%

Source-The Hindu

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