...............After some apparent reluctance initially, the Reserve Bank of India (RBI) seems to have taken to the idea, extending the broad exemptions to funds raised and lent to low-cost housing projects. The details apart, the main benefit of the exemptions from the banks' point of view is that their cost of funds will decline in the absence of the prudential load, which can then be passed on to borrowers. But it would be naive to think that.........
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