SBI Slashes Lending Rates Across All Tenors By 0.35%, Loans To Get Cheaper

The country's largest lender State Bank of India (SBI) announced a cut of 35 basis points (bps), or 0.35 per cent in its lending rates across all tenors. Following the reduction, the one-year MCLR will come down to 7.40 per cent per annum from the existing 7.75 per cent from April 10, the bank  said in an official release.