SBI Cuts Interest Rate For Exporters By 0.5%(June 29 2012)

State Bank Of India (SBI) slashed interest rates on loans to exporters by 0.5% that could boost the Indian exports at a time when the economy is witnessing a lower growth rate.SBI’s cut in the interest rates comes soon after the RBI(Reserve Bank Of India)raised the export refinancing limits of the banks.

Export credit is linked to the bank’s base rate and varies from 2.5% to 6% above that depending on various factors including credit rating of the exporter.SBI base rate is 10%

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