<p> With inflation turning negative for the first time in 30 years, banks are gearing up for interest rate cut up to 100 basis points.<br />Scope prevelant<br />“Interest rates should come down. We will take a look on Friday as to how much deposit and lending rates further can be cut,” UCO Bank Chairman and Managing Director S K Goel said. “My rough estimate is that 100 basis points at least, we will be able to reduce,” Goel said.<br />Kolkata-based UCO bank will hold its ALCO (Asset and Liability Committee) meeting on Friday to take a view on rate cut.<br />Meanwhile, State Bank of Bikaner and Jaipur, the largest subsidiary of SBI, reduced deposit rates by up to 100 basis points on various maturities effective on Thursday.</p>
<p> With inflation turning negative for the first time in 30 years, banks are gearing up for interest rate cut up to 100 basis points.<br />Scope prevelant<br />“Interest rates should come down. We will take a look on Friday as to how much deposit and lending rates further can be cut,” UCO Bank Chairman and Managing Director S K Goel said. “My rough estimate is that 100 basis points at least, we will be able to reduce,” Goel said.<br />Kolkata-based UCO bank will hold its ALCO (Asset and Liability Committee) meeting on Friday to take a view on rate cut.<br />Meanwhile, State Bank of Bikaner and Jaipur, the largest subsidiary of SBI, reduced deposit rates by up to 100 basis points on various maturities effective on Thursday.</p>