India central bank expects banks to lower lending rates after rate cut

MUMBAI: Reserve Bank of India Governor Raghuram Rajan said he expected to see banks lower lending rates heading into a new fiscal year in April after the central bank unexpectedly cut interest rates on Wednesday.

The comments, in a teleconference call with analysts, came after the RBI cut its policy repo rate by 25 basis points to 7.50 percent, its second rate cut in two months.