........Should it be considered as good news on lending rates? No, not yet. Borrowers will have to wait for the banks to size the situation — whether it is conducive to pass on the reduction. As of now the home loan rates have neither been increased nor decreased and remain at last month’s level. The festive offers continue, which should be a good opportunity for home loan seekers to enjoy the benefits such as lowered interest rates and reduction in processing fee. Since the RBI is concerned that deposit mobilisation is not happening aggressively banks will have to borrow from other sources to meet the credit demand...........
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