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Bank of Maharashtra to link repo rate with retail loans

Date: 26 August 2019 Tags: Banking Schemes & Policies
  • Bank of Maharashtra (BoM) has said it will link its retail loans with the repo rate, which will make the loans cheaper.
  • At present, it will be for new customers only and in due course it will be extended to existing customers as well.
  • By linking repo rate to retail loans, the bank is passing interest rate benefits directly to the customers and it will make the retail loans cheaper.