Banks unlikely to match RBI's rate cut any time soon
Updated : February 08, 2019 02:58 PM IST
The reluctance of bankers to pass on all of Thursday's surprising 25 basis point rate cut is a potential blow to Prime Minister Narendra Modi's government, which hopes lower lending rates will lift growth and job creation ahead of general elections due by May.
Making more credit available more cheaply is vital for Modi, who wants to please businesses, farmers and individual borrowers.
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