The Economic Times News

Major banks cut lending rates: After RBI trims repo rate, SBI, PNB, Canara Bank, and IOB lower borrowing costs

Borrowers can now cheer as major banks like SBI, PNB, and Canara Bank have lowered lending rates. This follows the RBI's recent repo rate reduction. These cuts mean lower EMIs for many customers. Banks including Indian Overseas Bank, Bank of Baroda, Indian Bank, Bank of India, and Bank of Maharashtra have also announced rate reductions on various loans.