Lending rate

This is the second consecutive bi-monthly meeting of the Monetary Policy Committee in this fiscal year 2019-20 in which the repo rate has been kept unchanged. read more

The RBI also revised GDP growth downwards to 5 per cent for 2019-20 from 6.1 per cent projected in its October policy. read more

“In view of the festival season and extending the benefits to customers across all segments, we have reduced our MCLR by 10 bps across all tenors,” the bank said in a statement. read more

State Bank of India, in a statement, said, “In view of the festival season and to extend the benefit to customers across all segments, the SBI has reduced its MCLR by 10 bps across all tenors.” read more

RBI’s six-member Monetary Policy Committee (MPC) has announced the fourth bi-monthly policy for 2019-20 on Friday, after a three-day meeting. read more

The State Bank of India in a release said that it will reduce interest rates by 10 basis points from tomorrow. read more

In the past, there has been a lot of talk of banks not being able to effectively transmit rate cuts to customers read more

The Reserve Bank of India’s (RBI) Monetary Policy Committee on Wednesday cut the interest rate by 35 basis points (bps) -- the fourth successive reduction -- to a nine-year-low level, in an attempt to boost an economy growing at its slowest pace in nearly... read more

The reduction will make all loans cheaper; for instance, the rate on home loans will come down to 8.25% from 8.4%. On a \u20B930 lakh loan over a 20-year period, the savings would be Rs 70,000. read more

The admission of the rising headwinds to growth led the monetary authority to slash the lending rates by an unprecedented 35 bps to 5.40 percent in the fourth successive rate reductions since Shaktikanta Das assumed power in December. read more

The Wholesale Price Index (WPI)-based inflation was at 2.45 per cent in May. It was 5.68 per cent in June 2018. read more

Economic Survey 2019: Finance Minister Nirmala Sitharaman tabled the Survey in Rajya Sabha a day before the maiden Union Budget of the new Narendra Modi government. read more

While the coming budget may incentivise job-oriented private investment and focus on skill-development initiatives, the government is likely to persuade banks, particularly public sector ones, to slash interest rates. read more

According to an SBI note, core CPI will go down and the headline CPI will increase, leading to convergence in coming months. read more

Bankers say that you will see a change in marginal cost of fund based lending rates (MCLR) when the asset-liability committee of individual banks meets next time. read more