RBI Governor asks banks to pass on rate cuts, support growth

• RBI Governor urged banks to pass on rate cuts to customers to support sustainable growth and deeper financial inclusion.
• Since February 2025, the RBI has trimmed the key policy rate by 125 basis points to 5.25%.
• The Governor advised banks to avoid complacency, remain vigilant, improve customer service, and strengthen internal systems.
• He highlighted growing risks from digital fraud, calling for more robust, intelligence-driven safeguards.
• Banks were encouraged to proactively outreach and conduct awareness campaigns regarding re-KYC and unclaimed deposits.

Why It Matters: Your loan costs might decrease, supporting economic growth.