After the Reserve Bank of India prescribed new system to improve transmission of monetary policy that is Instead of one benchmark rate, banks would indicate at least five benchmark rates varying according to tenures called Marginal Cost of funds based Lending Rates (MCLR), home loans from the country’s largest lender, State Bank of India are set to be cheaper by 10 basis points. read more at http://shopsandhomes.com/blog/index.php/2016/04/sbi-announces-cheaper-home-loans/
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