"Handshake across the Himalayas"
India, China to study new ways to ease border tensions
India and China will study new ways to ease tensions along their ill-defined border, Chinese Premier Li Keqiang said on Monday in his first foreign trip since taking office, which comes just weeks after a military stand-off between the Asian giants in the Himalayas. Full Article | Slideshow
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State Bank of India cuts base rate by 5 basis points
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People walk in front of a signboard displayed at the head office of State Bank of India in Mumbai November 9, 2009.
Credit: Reuters/Arko Datta/Files
MUMBAI |
MUMBAI (Reuters) - State Bank of India, the country's top lender, has cut its key lending rate, or base rate, by 5 basis points, R. Venkatachalam, deputy managing director at the bank, told Reuters on Wednesday.
The base rate now stands at 9.7 percent and will be effective Feb 4, the bank said in a statement.
The Reserve Bank of India cut a key policy rate by 25 basis points on Tuesday to help support an economy set to post its slowest annual growth rate in a decade.
"It worked out to only 5 basis points. We are passing on the entire benefit," Venkatachalam said.
(Special Coverage: RBI POLICY REVIEW, click here)
(Reporting by Swati Pandey. Editing by Jane Merriman)
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