NABARD cuts interest rates up to 50 basis points

GUWAHATI: The National Bank for Agriculture and Rural Development ( NABARD) on Monday cut interest rates by up to 50 basis points on medium and long-term refinance facilities with immediate effect.

“NABARD has reduced the rate of interest by 20 bps on their longterm refinance facility (3-5 years and 5 years) and by 50 bps for the medium-term refinance facility (18 months to 3 years) to banks with an objective to give a spur to investments in agriculture,” the bank said