Bank Interest rates may drop.............

This is a good news to all the people who want to take the loan from financial institutions that Government is thinking to reduce the interest rates once again.

RBI governor D Subbarao gave a hint after having a meeting with Bankers. RBI is trying to lowering the Repo and reverse repo rate by 25 basis point each to 4.75 and 3.00% respectively. Repo rate is a rate at which RBi lends to bank and Reverse Repo rate is a rate at which banks parks their surplus money with the RBI.