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Central Bank cuts rates on retail loans

CHENNAI: Central Bank of India has revised the interest rate downwards on various retail loans. In respect of housing loans, the interest rate has been reduced by 25 basis points on the floating rate to 9.25 per cent and by 50 basis points on the fixed rate to 10 per cent. In respect of educational loans, the interest rate has been reduced by 50 basis points. — Corporate Reporter

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