Sir — This refers to recent cut in the interest rate by RBI, aimed to give relief to loan-takers. But it is usual for banks and non-banking financial companies not to pass the benefit of repo rate cuts to the existing loan-takers. Significantly, in the case of hike in rates by the RBI, the banks instantly burden the loanees through increased interest rates. The RBI should ensure that benefits of repo rate cut are immediately passed on to the existing loanees.