Working-capital loans will likely become less expensive for Indian companies after short-term borrowing costs dropped significantly, in tandem with the record decline in the central bank’s benchmark repurchase rates.
Rates in shorter duration bonds of up to three-year maturities and commercial papers (CPs) with less than one-year maturities plunged up to 30 basis points (bps) immediately after the central bank slashed rates to the lowest on record.
