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4 Jun 2009

Home Loan Seekers has a Reason to Cheer

Home loan buyers have a reason to cheer as ICICI Bank has announced that it is cutting its floating lending rates by 50 bps. This rate cut will be effective wef 05 June 2009.

This statement has been made by Mrs Chanda Kochhar, CEO of ICICI bank and same has been stated publically on CNBC TV18. Another reason to cheer is that the rate cut will be also applicable for existing customers.

3. Mrs Chanda Kochhar has stated that bank will not experience any pressure on margins post PLR cut and further added that the chances of policy rate cuts are bleak.

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