Loans will get cheaper as Govt prods banks to cut more rates

Home and other retail loans and industrial lending may become cheaper soon as public sector banks are likely to cut interest rates after the gov prodded lenders to provides credit at reasonable rates.
Expressing concern over non-availability of credit at affordable prices from banks, Mukherjee said, "As a financial intermediary, the banks have to stand-by to provide credit at reasonable rates. This is an area of concern in many quarters both within the government and outside," he said.