Before rate cut SBI chief was telling to all and sundry about his plans to pass it on the benefits to Aam Aadmi of India. In reality his Aam Aadmi's are none other than real estate sharks. Simple logic of 'you save my ass and in return I will save your ass' concept. The interesting news is that after RBI cut 0.25 % in Repo, SBI cuts 0.05% in base rate.So according to this genius banker, RBI has to cut repo rate by 5% to as low as 2.75, so that we will get 1% reduction in his bank's lending rate. Really I feel proud that I live in the era of SBI chief Pratib Chaudhuri.
No comments :
Post a Comment