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Welcoming the 25 basis points cut in repo rate by Reserve Bank of India, State Bank of India Chairman Arundhati Bhattacharya said her bank will take an appropriate call on a cut in base rate by looking at all evolving circumstances.
Base rate is the minimum lending rate of banks.
“We welcome the repo rate cut by RBI. With the Government embarking on a path of qualitative fiscal consolidation and the formal adoption of inflation targeting, inflation trajectory is expected to stay benign and will aid banks in their decision making.
"Our bank will take an appropriate call of a cut in base rate by looking at all evolving circumstances, “ said Bhattacharya.
In a surprise move, the central bank earlier today cut the repo rate from 7.75 per cent to 7.50 per cent. This move came three days after the union budget announcement.
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