Which Indian bank introduced a home loan product directly linked to the RBI repo rate in 2019?

Introduction / Context:
In India, interest rates on loans are often linked to benchmarks such as the Marginal Cost of Funds based Lending Rate (MCLR) or the Reserve Bank of India (RBI) repo rate. When banks began linking retail loans directly to the repo rate, it was seen as an important step toward faster transmission of monetary policy. This question asks which bank introduced a home loan scheme directly linked to the repo rate in 2019, a topic frequently covered in banking and economic awareness sections.

Given Data / Assumptions:

- The loan product under discussion is a repo rate linked home loan.- The time frame mentioned is 2019.- Options are State Bank of India, HDFC Bank, Axis Bank, and ICICI Bank.- We assume reliance on standard financial news summaries used in exams.

Concept / Approach:
The repo rate is the rate at which RBI lends to commercial banks. Linking home loans to this rate makes loan interest more responsive to changes in monetary policy. In 2019, State Bank of India, the largest public sector bank in the country, became the first major bank to launch a home loan product directly linked to the repo rate. This fact was reported widely and then adapted into multiple exam questions. Therefore, we identify SBI as the correct answer among the listed banks.

Step-by-Step Solution:
1. Recall that in mid 2019, financial news highlighted SBI for launching a repo rate linked home loan scheme.2. Remember that this move came before many other banks shifted their loan benchmarks to external rates as per RBI directions.3. Examine each option: HDFC Bank, Axis Bank, and ICICI Bank did adjust lending products later, but they were not typically cited as the first movers in exam oriented summaries.4. Confirm that State Bank of India is repeatedly mentioned as the first major bank to introduce this type of home loan scheme.5. Select State Bank of India (SBI) as the correct answer.

Verification / Alternative check:
You can verify by remembering SBI advertisements and newspaper articles explaining how the new repo linked home loan would lead to quicker changes in EMI whenever the RBI changed the repo rate. Many business newspapers and exam preparation sites specifically named SBI as the first bank to launch this product ahead of the October 2019 deadline for external benchmark linked loans. This association strongly supports SBI as the correct option.

Why Other Options Are Wrong:
- HDFC Bank: A major private sector bank, but not generally cited as the first to introduce repo linked home loans in the 2019 context of this question.- Axis Bank: Also a significant private bank, yet exam oriented summaries credit SBI rather than Axis as the pioneer for repo linked home loans.- ICICI Bank: Another major private bank that updated benchmarks later, but not the one highlighted as initiating the first such scheme in 2019.

Common Pitfalls:
Because all the options are large and well known banks, learners sometimes guess randomly or assume that a private bank might have moved faster than a public sector bank. Another confusion arises from mixing up who introduced repo linked loans first and who adopted external benchmark linked loans later under regulatory directions. Carefully recalling the specific news that SBI took the early step prevents this confusion.

Final Answer:
The correct option is State Bank of India (SBI), which launched a home loan product directly linked to the RBI repo rate in 2019 and was widely recognized for this step.