SBI: Lending rates may soften in select sectors

Indian banks may reduce lending rates for select sectors including those that are seeing higher demand for credit and lower level of defaults, chairman of State Bank of India, the country's top lender, said on Tuesday.

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These sectors may see "some softening in cost of funds", Pratip Chaudhuri told reporters, after the central bank cut cash reserve requirements for banks by 50 basis points on Tuesday to ease tight liquidity.

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