RBI chief: Banks can further cut lending rates
MUMBAI (Reuters) - Indian banks have scope to cut lending rates further, Reserve Bank Governor Duvvuri Subbarao said on Tuesday.
"The remaining government borrowing is over 60,000 crore (600 billion rupees) and I am told that state government borrowing will be maximum 100,000 crores (1 trillion rupees)," he added.
Subbarao was speaking to reporters after the Reserve Bank's monetary policy review, where it kept interest rates unchanged but began to exit from expansionary policy by ending some liquidity support measures.
(Reporting by Neha D'Silva and Swati Bhat; Editing by Jarshad Kakkrakandy)
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