<h1>Banks Cut Lending Rates After RBI Policy Move, Reducing Borrowing Costs for Customers Across Multiple Loan Tenures</h1> Two major banks reduced lending rates following the Reserve Bank of India's policy rate cut. State-owned Bank of Baroda slashed its Repo Linked Lending Rate by 50 basis points to 8.15 percent, while HDFC Bank reduced its Marginal Cost of Funds-based Lending Rates by 10 basis points across different tenures. The RBI's monetary policy committee voted to lower benchmark repo rate to 5.5 percent and cut cash reserve ratio to 3 percent, aiming to boost economic lending.