End-user lending rates fall to 5-year low in September

End-user lending rates in India plunged the most in five years, mirroring central bank efforts to hasten economic revival through availability of credit, as public-sector banks took the lead in slashing the cost of new loans. India's Weighted Average Lending Rates (WALRs) dropped 31 basis points in a month to 7.20% in September, the steepest monthly drop in nearly five years since November 2016.

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