Existing bank loans turn cheaper, a year after the beginning of rate cut cycle

The transmission has been slow for new loans even as RBI cut the benchmark policy rate by 135 basis points since February 2019 but it was non existent or negative for existing borrowers. Some existing borrowers had paid monthly instalments at higher rates during the same period.

from Personal Finance News-Wealth-Economic Times https://ift.tt/31tnLFW