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Central Bank cuts retail lending rates

TIRUCHI: Central Bank of India has announced a reduction in the interest rate of 50 basis points on its retail lending schemes for the festive season. The bank has waived the processing charges in respect of housing loans from September 15 to October 31. The retail lending schemes in which interest rates have been reduced are housing, loan to students, loan for consumer durables and vehicles, loan to teachers, loan for tours and jewels.

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