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Banks Still Reluctant to Cut Lending Rates

Author Name: Avijit Bajpai



Several brave moves by the Reserve Bank of India to ease out the present lending scenario in banks, does not able to bring enough cheer for the loan seekers, as only three banks have slashed their prime lending rates.

It is pretty cold response on the part of banks that brings much of a disappointment for the car loan and home loan seekers. After the cuts by the RBI in key interest rates, banks have been expected to bring some immediate relief for the common man. But only Union Bank brought down its PLR (Prime Lending Rate) by 75 basis points and a cut of 50 basis points is seen from Yes Bank and HDFC Bank.

Other Private Banks have presently no plans to ease out the lending rates as they don’t see enough liquidity to force the cut. Apart from private banks, public sectors banks also shows some reluctance as they are of the view that the deposit rates must be softened first before they go for PLR cut.

 
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