“The deficit of interest rate passing to the consumer is close to 75-100 basis points. With some arm-twisting, cajoling if the RBI is able to convince the major banks and financial institutions to perhaps go even beyond the repo rate cut and if we get 100 basis point reduction over three-to five days, then that would be substantial,” said Pawan Goenka, Managing Director, Mahindra and Mahindra (M&M).
