Bank of Baroda, PNB, HDFC Bank & others cut rates; loans cheaper.

• RBI Governor urged banks to pass on rate cuts to customers to support economic growth.
• Bank of Baroda reduced its MCLR for specific tenures and cut its Baroda Repo Based Lending Rate (BRLLR) by 25 basis points.
• Punjab National Bank, Indian Bank, and Bank of India lowered their Repo-Linked Lending Rates (RLLR)/RBLR by 25 basis points.
• HDFC Bank cut MCLR by 5 basis points, and Bank of Maharashtra reduced retail loan rates by 25 basis points.

Why It Matters: Banks are cutting interest rates, making loans more affordable for customers.