RBI Governor Sanjay Malhotra urges banks to pass on rate cut benefits for growth

• RBI Governor urged banks to pass on rate cut benefits to customers to support economic growth.
• The RBI has reduced the key policy rate by 125 basis points to 5.25% since February 2025.
• Governor Malhotra emphasized improved customer service, reducing complaints, and strengthening internal systems.
• Banks were advised to remain vigilant, avoid complacency, and address growing risks from digital fraud with robust security.
• He commended banks for re-KYC and unclaimed deposit efforts, urging continued outreach and awareness campaigns.

Why It Matters: RBI urges banks to pass rate cut benefits to customers for economic growth.