Tag: Interest rates
17 Results
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RBI cuts key interest rate by 25 basis points to 6%, loan EMIs likely to get cheaper
This is the second consecutive rate cut from RBI under new chief Shaktikanta Das, after a surprise rate cut in February.
April 4, 2019 -
Centre burdening masses by reducing small savings interest rates: CM Mamata
Taking a swipe at the Centre, West Bengal Chief Minister Mamata Banerjee on Tuesday accused the Narendra Modi government of reducing interest rates on employee provident fund and small savings for what she said was to “compensate for the loss incurred due to looting by a few people”. “Rate of interests on PF, small savings, …
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February 20, 2018 -
Consumer Forum rejects complaints against SBI
The District Consumer Redressal Forum here has rejected four complaints against the State Bank of India (SBI) pertaining to the interest rate on personal loans. Forum’s president Sneha Mhatre and member Madhuri Vishwarupe recently held that SBI’s Thane main branch was right in recovering the difference in the interest rate on the personal loan as …
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December 15, 2017 -
‘RBI may go for 25 bps rate cut in August’
The monetary policy committee of the Reserve Bank of India is expected to cut policy rates by 25 bps in August on weak growth and benign inflation, says a Bank of America Merrill Lynch (BofAML) report. “We estimate that old series GDP growth, at 4.5-5 per cent, well below our estimated 7 per cent potential/trend. …
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April 10, 2017 -
RBI keeps repo rate unchanged at 6.25%; hikes reverse repo rate
In its bi-monthly monetary policy review, the Reserve Bank of India (RBI) on Thursday kept key repo rate or lending rate unchanged at 6.25 per cent but hiked reverse repo rate by 25 basis points (bps) to 6 per cent. The Reserve Bank also narrowed policy rate corridor, due to liquidity flush, by increasing marginal …
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April 6, 2017 -
‘Cutting base rates by SBI, HDFC is smart move’
Large lenders have smartly cut their base rates to slow down the borrowers from switching to marginal cost of fund based lending rate (MCLR) and in the process protect their margins, said investment banking firm Jefferies. In a statement issued on Thursday Jefferies said State Bank of India (SBI) and HDFC bank have reduced their …
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April 6, 2017 -
RBI expected to keep rates unchanged on Thursday
The Reserve Bank of India (RBI) is expected to maintain its key lending rates at its first bi-monthly monetary policy review of this fiscal due on Thursday. At its last policy review of the previous fiscal in February, the RBI had kept its repo or short term lending rate for banks unchanged at 6.25 per cent, …
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April 4, 2017 -
Govt slashes small saving schemes interest rates by 0.1%
The government has lowered interest rates on small saving schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi scheme by 0.1 per cent for the April-June quarter, a move that would prompt banks to cut their deposit rates. For April-June, these have been lowered by 0.1 per cent across the board compared to January-March. However, …
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March 31, 2017 -
Govt slashes small saving schemes interest rates by 0.1%
The government has lowered interest rates on small saving schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi scheme by 0.1 per cent for the April-June quarter, a move that would prompt banks to cut their deposit rates. For April-June, these have been lowered by 0.1 per cent across the board compared to January-March. However, …
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March 31, 2017 -
Banks looking for lower savings account interest rates
Falling growth in loans is making banks to look at the possibility of lowering the interest rates on savings bank accounts so as to improve their pre-provision operating profits, investment banking firm Jefferies said. In an industry note on Indian banking sector about the concerns of investors after the US roadshows, Jefferies said: "Falling loan …
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March 28, 2017 -
New Zealand holds interest rate at historic low
New Zealand's central bank held its official cash rate (OCR) at a historic low of 1.75 per cent on Thursday, citing major challenges in the global economy. Macroeconomic indicators in advanced economies have been positive over the past two months, but major challenges remained with ongoing surplus capacity in the global economy and extensive geo-political …
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March 23, 2017 -
RBI’s policy rates to stay on hold throughout 2017: Report
India's rate cutting cycle has come to an end and policy rates are likely to be on hold throughout 2017 as inflation is expected to stay above the Reserve Bank's target, says a Nomura report. The minutes from the Reserve Bank's February 8 policy meeting shows that focus has shifted to lowering inflation towards the …
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February 23, 2017 -
RBI’s policy rates to stay on hold throughout 2017: Report
India's rate cutting cycle has come to an end and policy rates are likely to be on hold throughout 2017 as inflation is expected to stay above the Reserve Bank's target, says a Nomura report. The minutes from the Reserve Bank's February 8 policy meeting shows that focus has shifted to lowering inflation towards the …
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February 23, 2017 -
Nifty ends flat as RBI keeps rates unchanged
Indian stocks ended flat on Wednesday after the Reserve Bank of India kept its policy rates unchanged in a bid to defuse inflationary pressures and understand the impact of demonetisation on the economy. The hawkish central bank kept its repo rate constant at 6.25 per cent and the reverse repo rate at 5.75 per cent. …
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February 8, 2017 -
Sensex, Nifty close flat as RBI keeps policy rates unchanged
Domestic equity markets recovered from day’s low and closed Wednesday's volatile trading session on a flat note as the Reserve Bank of India kept key policy rates unchanged to 6.25 per cent and shifted its policy stance to neutral from accommodative. The Sensex at the Bombay Stock Exchange (BSE) ended 45 points down at 28,290, and …
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February 8, 2017 -
RBI keeps interest rates unchanged; shifts policy stance to neutral
India's Central bank kept key policy rates unchanged to 6.25 per cent and shifted its policy stance to `neutral' from `accommodative' in bid to control inflationary expectations in a slowing economy. Stocks fell. Governor Urjit Patel, under fire from his less than satisfactory handling of the demonetisation process, said in a statement “inflation is edging …
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February 8, 2017 -
RBI likely to hold interest rates at Wednesday’s review
The Reserve Bank of India (RBI) is expected to hold key interest rates at its final monetary policy review for this fiscal on Wednesday — its second after November's note ban — in the wake of banks being flush with funds post-demonetisation and a firming up of global oil prices. As a result of the …
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February 7, 2017