Fresh lending rates fall 10 bps in September
In short
Fresh lending rates fell by 10 basis points in September. Foreign banks cut fresh lending rates by 22 basis points, and deposit rates dropped to 5.61%, the lowest in 10 months.
This can make borrowing a bit cheaper and lower banks’ funding costs.
What the reporting says
Fresh lending rates fell 10 basis points in September, with foreign banks cutting rates by 22 basis points. Business Standard said surplus liquidity also helped banks reduce deposit rates to a 10-month low of 5.61%.
Why it matters
Fresh lending rates dropped in September, with foreign banks leading the cut by 22 basis points. The syndicated summary also says surplus liquidity pushed deposit rates to 5.61%, a 10-month low.