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According to several updates, Israel attacked the nuclear sites of Iran for the second time through a fighter plane at around 10:30 pm on Friday. 

Iran Fires 150 Missiles at Israel After Twin Strikes—How Will This War Shake India’s Economy?

It is to be noted that before SBI, the interest rates of the loans were also reduced by Union Bank and Punjab National Bank. It is believed that this reduction in the interest rates has been reported after the repo rates were reduced by RBI from 6.00% to 5.50%.

SBI reduces interest to 7.5%, borrowers to save over ₹2 lakh

RBI Governor Sanjay Malhotra on Wednesday announced a 25 basis cut in the policy rate from 6.25 per cent to 6 per cent and change in monetary policy stance from neutral to accommodative to accelerate economic growth.

RBI cuts repo rate by 25 basis points, switches to accommodative stance to spur growth

Repo rate is the interest rate at which banks get loans from RBI, this means that the reduction in repo rate will make it easier for banks to take loans. 

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Iran Fires 150 Missiles at Israel After Twin Strikes—How Will This War Shake India’s Economy?

SBI reduces interest to 7.5%, borrowers to save over ₹2 lakh

RBI cuts repo rate by 25 basis points, switches to accommodative stance to spur growth

RBI announces repo rate cut after 5 years: Know how it impacts EMI, loan tenure & savings