Indian banks will reduce their interest rates if the Reserve Bank of India cuts its key lending rate at its mid-term policy review on October 30, K.R. Kamath, chairman of the Indian Banks' Association, assured the Reserve Bank of India (RBI) Governor Duvvuri Subbarao on Friday. Mr Kamath, who also heads the state-run Punjab National Bank, and other top bankers met Dr Subbarao and the four deputy governors of the central bank at a pre-policy meeting ahead of its second quarter monetary policy review scheduled for 30 October..........
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