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of <h1>Banks Slash Lending Rates by 25 Basis Points After RBI Policy Rate Reduction, Offering More Affordable Loans</h1> Two public sector banks, Bank of India and UCO Bank, reduced their lending rates by 25 basis points following the Reserve Bank of India's policy rate cut. The new repo-based lending rates are 8.85% and 8.8% respectively, effective immediately. Other banks are expected to follow suit, potentially benefiting existing and new borrowers.
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