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Author: admin | Category: Car Loan Canada | Date: 12.01.2015

For buying a new car my brother wants to take Car Loan from State Bank of India, so tell me what is the State Bank of India Car loan interest rate & eligibility criteria??? Hello sir I want to take Car Loan from State Bank of India so please provide me the interest rate details of this bank for this type of loan. To avail an SBI Car Loan, you should be an individual aged 21 to 65 years depends on your income and max. The following errors occurred with your submission Okay Your Username: Click here to log in Message: Options Quote message in reply?
Rajan, who had focused on quelling inflation since taking office in September 2013, lowered the benchmark repo rate to 6.50 percent, the lowest since January 2011.
Consequently, the reverse repo rate under the LAF stands adjusted to 6 percent, and the marginal standing facility (MSF) rate to 7  per cent.  The Bank Rate which is aligned to the MSF rate also stands adjusted to 7 percent.

The RBI, however, has decided to keep the cash reserve ratio (CRR), the portion of deposits which the banks are required to have in cash with the central bank, unchanged at 4.0 percent.
RBI Governor Raghuram Rajan, on February 2, had left the key interest rate unchanged citing inflation risks and growth concerns. In all, the RBI reduced by repo rate by 1.25 percent in 2015, but it has been frustrated by commercial banks failure to pass on the full benefits to the wider economy. Complaining of tight liquidity in the financial system, banks only passed on about half of the RBI`s rate reductions to borrowers so far. The slowdown left the economy further adrift of the government`s 8 percent growth target, a rate needed to generate jobs for the millions of Indians joining the workforce each year.
Retail inflation as measured by the Consumer Price Index (CPI) eased to 5.18 percent in February as food prices rose at a slower pace, while Wholesale Price Index stayed in the negative territory for the 16th month in a row.

Industrial output for the third month in a row remained in the negative territory contracting 1.5 percent in January due to poor showing of manufacturing sector raising industry clamour for rate cut by the RBI. By cutting rates, the country's largest lender is trying to capture the growing retail segment in the face of falling demand for loans from corporates.
The move will force rival private sector and state-run peers to lower interest rates, which could put pressure on their profitability.

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