Tag: Interest Rate

Govt hiked deposit rates to tame inflation; baby steps, say experts

Concerned over rising inflation, the government, aiming to tame price rise, had hiked the interest rate for the senior citizen savings scheme by 20 basis points from 7.4 per cent to 7.6 per cent on September 30 through a notification.

November 27, 2022

Hike in repo rate likely to impact affordable housing

The 50 basis points hike in the repo rate coupled with inflationary pressure is likely to impact the sentiment of the Housing sector particularly in the affordable and mid-range housing segments.

September 30, 2022

Interest rates for small savings schemes raised

The Centre has hiked interest rate for senior citizen savings scheme by 20 basis points from 7.4 per cent to 7.6 per cent, according to a Finance Ministry notification.

September 30, 2022

RBI may hike interest rate by 35-50 basis points in next MPC: SBI Research

Faced with elevated retail inflation in August, the Reserve Bank of India is expected to raise interest rates in the range of 35-50 basis points in its next monetary policy committee meeting, said SBI Research.

September 13, 2022

SBI to slash interest rates on saving accounts, will come in effect from Nov 1

Saving bank holders will get 3.25 per cent interest instead of 3.5 per cent.

October 31, 2019

Will continue to lower tax rates if voted to power: Arun Jaitley after RBI’s big interest rate cut

The minister said that over the last 5 years the government did not increase tax rates, and in some cases doubled tax base and increased tax collection.

April 5, 2019

Centre raises interest rate on small savings by up to 0.4 per cent

However, interest on savings deposits has been retained at 4 percent, annually.

September 20, 2018

IMF welcomes RBI decision to hike interest rates

RBI had increased the lending rate by 25 basis points.

June 8, 2018

RBI expected to hold key interest rate

 At its first bi-monthly monetary policy review of the new fiscal, the RBI is expected to continue with its stance of the previous year when the central bank kept its key interest rate unchanged at 6 per cent over three successive reviews. Although hopeful of a cut in the Reserve Bank of India’s repo, or...

April 3, 2018

EPFO may retain 8.65 per cent interest rate for FY’18

Retirement fund body EPFO is expected to keep interest rate unchanged at 8.65 per cent on provident funds for its about 5 crore members for 2017-18 at its trustees’ meet on February 21, 2018, sources said. The Employees Provident Fund Organisation (EPFO) has already sold exchange traded funds (ETF) worth Rs 2,886 crore earlier this month...

February 12, 2018

RBI keeps key interest rate unchanged at 6% with neutral stance

The Reserve Bank of India (RBI) kept its key interest rate unchanged at 6 per cent for the fourth time in succession at its final bi-monthly monetary policy review of the fiscal, citing concerns about the inflationary push by rising global crude oil prices. Announcing the policy review, the RBI said its decision is consistent...

February 7, 2018

RBI likely to keep interest rate on hold for 3rd time in a row

Firming inflation, rising oil prices and government’s plans to raise crop support price are likely to restrain the RBI, for the third time in a row, from slashing benchmark lending rate on Wednesday, say experts. The 6-member Monetary Policy Committee (MPC), headed by Reserve Bank of India (RBI) Governor Urjit Patel, will meet on February...

February 5, 2018

PNB, HDFC Bank to revise interest rates on savings accounts

Banking majors — PNB and HDFC Bank — on Thursday said that they will reduce interest rate by 0.5 per cent on saving bank deposits of below Rs 50 lakh to 3.5 per cent per annum with effect from Saturday. HDFC Bank said that post revision, customers maintaining savings bank account balance of Rs 50...

August 18, 2017

Jaitley defends SBI decision to cut savings account interest rate

Finance Minister Arun Jaitley on Thursday defended the State Bank of India's decision to cut interest rate on savings accounts of less than Rs 1 crore, saying the move was in sync with reduction in lending rate. Responding to a Zero Hour mention of the SBI's decision to cut interest rate on savings accounts with...

August 3, 2017

RBI needs to cut interest rate by 25 basis points: Assocham

Ahead of the Reserve Bank of India's (RBI) forthcoming monetary policy review next week, industry chamber Assocham has on Sunday urged the apex bank to cut interest rates in view of latest data that shows inflation at a five-year low and deceleration in the factory output. "Citing inflation at a five-year low and deceleration in...

July 30, 2017

South Korea freezes interest rate at record low

South Korea's central bank on Thursday froze its benchmark interest rate at a record low, refraining from altering the rate for 13 months in a row. Bank of Korea (BOK) Governor Lee Ju-yeol and six other monetary policy board members decided to put the seven-day repurchase on hold at 1.25 per cent. The policy rate...

July 13, 2017

Government extends interest subsidy on short-term crop loans

Farmers will continue to get short-term loan of up to Rs.3 lakh at a subsidised interest rate of 7 per cent, and prompt repayers will get it at 4 per cent as the government on Wednesday extended the subsidy to banks for 2017-18. The Interest Subvention Scheme for 2017-18 has been approved in the Cabinet...

June 14, 2017