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lending rate

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The reduced rate will benefit all existing HDFC retail home loan and non-home loan customers.(Pradeep Gaur/Mint)

HDFC cuts retail lending rates by 20 basis points

By Gopika Gopakumar | Mint, Mumbai
UPDATED ON JUN 13, 2020 08:55 AM IST
Following the reduction, HDFC’s new rates will now range between 7.5-8.5%. The move comes after State Bank of India reduced its marginal cost of funds based lending rate (MCLR) by 25 basis points across all tenors.
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SBI slashed its interest rates on retail term deposits by 20 basis points for ‘up to 3 Years’ tenor, effective from May 12 in view of adequate liquidity in the system as well as with the bank.pic by hemant Mishra/mint
SBI slashed its interest rates on retail term deposits by 20 basis points for ‘up to 3 Years’ tenor, effective from May 12 in view of adequate liquidity in the system as well as with the bank.pic by hemant Mishra/mint

SBI cuts benchmark lending rate by 15 basis points

By Press Trust of India | Mumbai
UPDATED ON MAY 07, 2020 04:17 PM IST
To safeguard the interests of senior citizens in the current falling rate regime, the bank has introduced a new product ‘SBI Wecare Deposit’ for them in the retail term deposit segment, SBI said in a statement.
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Shaktikanta Das, governor of the Reserve Bank of India (RBI), gestures during a news conference in Mumbai on Feb. 6, 2020.(Bloomberg)
Shaktikanta Das, governor of the Reserve Bank of India (RBI), gestures during a news conference in Mumbai on Feb. 6, 2020.(Bloomberg)

RBI keeps repo rate steady at 5.15%, pegs growth at 6% for next fiscal

By Revati Krishna | Hindustan Times, Mumbai
UPDATED ON SEP 09, 2020 07:36 PM IST
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.
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RBI governor Shaktikanta Das(ANI / Twitter)
RBI governor Shaktikanta Das(ANI / Twitter)

Repo rate unchanged, GDP growth lowered: Highlights of RBI’s monetary policy statement

By Press Trust of India | Mumbai
UPDATED ON DEC 05, 2019 12:43 PM IST
The RBI also revised GDP growth downwards to 5 per cent for 2019-20 from 6.1 per cent projected in its October policy.
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The marginal cost of funds-based lending (MCLR) would be effective from October 10, the revision in savings bank deposits rates will be from November 1, the bank said in a statement.(Photo: Mint)
The marginal cost of funds-based lending (MCLR) would be effective from October 10, the revision in savings bank deposits rates will be from November 1, the bank said in a statement.(Photo: Mint)

SBI cuts lending rates for 6th time; deposits rates down 25bps

By Press Trust of India | Mumbai
PUBLISHED ON OCT 09, 2019 03:36 PM IST
“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.
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The State Bank of India cut lending rates by 10bps on Wednesday, October 9, 2019.(REUTERS)
The State Bank of India cut lending rates by 10bps on Wednesday, October 9, 2019.(REUTERS)

SBI cuts lending rates by 10 bps, retail loans to get cheaper for existing borrowers

By Indo Asian News Service | Mumbai
UPDATED ON OCT 09, 2019 11:32 AM IST
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.”
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It also said that some RBI watchers expect a larger cut this week, after the central bank cut the repo rate by an unconventional 35 bps to 5.40% in August.(REUTERS FILE)
It also said that some RBI watchers expect a larger cut this week, after the central bank cut the repo rate by an unconventional 35 bps to 5.40% in August.(REUTERS FILE)

RBI cuts key lending rate by 25 basis points to 5.15%, loans to get cheaper

By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON OCT 04, 2019 12:08 PM IST
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.
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New logo/ monogram of SBI, State Bank of India. For stock shoot happened on 12.06.17, pic by hemant Mishra/mint
New logo/ monogram of SBI, State Bank of India. For stock shoot happened on 12.06.17, pic by hemant Mishra/mint

SBI cuts interest rates on fixed deposits, home loans

By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON JUN 27, 2020 09:16 PM IST
The State Bank of India in a release said that it will reduce interest rates by 10 basis points from tomorrow.
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RLLR-based home loan will ensure faster rate cut transmission. (Photo: iStock)
RLLR-based home loan will ensure faster rate cut transmission. (Photo: iStock)

Is it a wise idea to opt for repo-linked loan?

By Neil Borate, Nilanjana Chakraborty | New Delhi
PUBLISHED ON AUG 21, 2019 11:54 PM IST
In the past, there has been a lot of talk of banks not being able to effectively transmit rate cuts to customers
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Mohit Goel, chief executive officer of Omaxe Ltd, said that with inflation well within the RBI range and economy showing signs of slowdown, the(REUTERS FILE)
Mohit Goel, chief executive officer of Omaxe Ltd, said that with inflation well within the RBI range and economy showing signs of slowdown, the(REUTERS FILE)

RBI’s rate cut will help if banks pass on benefit to end-users, say realty players

By Press Trust of India | New Delhi
UPDATED ON AUG 08, 2019 10:13 AM IST
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 five years.
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Existing borrowers whose loans are linked to the MCLR (marginal cost of funds based lending rate) will not see any impact on immediately considering the reset clause. For instance, a loan linked to one-year MCLR and taken out in ,say, June, could see a reset only next June.(REUTERS)
Existing borrowers whose loans are linked to the MCLR (marginal cost of funds based lending rate) will not see any impact on immediately considering the reset clause. For instance, a loan linked to one-year MCLR and taken out in ,say, June, could see a reset only next June.(REUTERS)

SBI lowers lending rate by 15bps, loan EMIs set to ease

By Vivina Vishwanathan | Hindustan Times, Mumbai
UPDATED ON AUG 08, 2019 09:46 AM IST
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 30 lakh loan over a 20-year period, the savings would be Rs 70,000.
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The statement also comes amid many key personalities, including engineering giant Larsen & Toubro chairman AM Naik expressing concerns on the growth front.((Vipin Kumar Photo/ Hindustan Times))
The statement also comes amid many key personalities, including engineering giant Larsen & Toubro chairman AM Naik expressing concerns on the growth front.((Vipin Kumar Photo/ Hindustan Times))

Admitting slowdown, RBI lowers growth forecast to 6.9 percent

By Press Trust of India | Mumbai
UPDATED ON AUG 08, 2019 09:48 AM IST
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.
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Inflation in food articles basket eased marginally to 6.98 per cent in June, from 6.99 per cent in May.(Photo: Kalpak Pathak/Hindustan Times file photo)
Inflation in food articles basket eased marginally to 6.98 per cent in June, from 6.99 per cent in May.(Photo: Kalpak Pathak/Hindustan Times file photo)

Wholesale Price Index inflation declines to near 2-year low at 2.02% in June

By Press Trust of India | Hindustan Times, New Delhi
UPDATED ON JUL 15, 2019 12:44 PM IST
The Wholesale Price Index (WPI)-based inflation was at 2.45 per cent in May. It was 5.68 per cent in June 2018.
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Economic Survey 2018-19 was tabled in Parliament by Minister for Finance and Corporate Affairs Nirmala Sitharaman.
Economic Survey 2018-19 was tabled in Parliament by Minister for Finance and Corporate Affairs Nirmala Sitharaman.

Economic Survey 2019 Highlights: Economy@5trillion, job creation and other features

By HT Correspondent | New Delhi
UPDATED ON MAY 28, 2020 03:54 AM IST
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.
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Union Finance Minister Nirmala Sitharaman(PTI file photo)
Union Finance Minister Nirmala Sitharaman(PTI file photo)

Budget 2019: In Sitharaman’s 5-year road map, focus likely on 2 key issues

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON JUN 24, 2019 09:25 AM IST
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.
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Price rise in essential goods over a long period hits those in lower income groups the hardest.(HT File Photo/ Representative image)
Price rise in essential goods over a long period hits those in lower income groups the hardest.(HT File Photo/ Representative image)

Rise in CPI: How it impacts you

By HT Correspondent | Hindustan Times, Gurugram
UPDATED ON JUN 17, 2019 10:43 AM IST
According to an SBI note, core CPI will go down and the headline CPI will increase, leading to convergence in coming months.
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RBI has cut repo rate by 75 bps. However, the transmission of the rate cut has been slow. Banks blame it on tight liquidity situation due to slow growth in deposits and systemic liquidity position in the economy.(HTFile)
RBI has cut repo rate by 75 bps. However, the transmission of the rate cut has been slow. Banks blame it on tight liquidity situation due to slow growth in deposits and systemic liquidity position in the economy.(HTFile)

How RBI’s rate cut will affect you

By Vivina Vishwanathan | Hindustan Times, Mumbai
UPDATED ON JUN 10, 2019 08:21 AM IST
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.
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Forex traders said investors welcomed the RBI policy decision as this would help to boost the slowing economy.(Bloomberg File Photo / Representative image)
Forex traders said investors welcomed the RBI policy decision as this would help to boost the slowing economy.(Bloomberg File Photo / Representative image)

Rupee opens marginally higher after RBI policy decision

By Press Trust of India | Mumbai
UPDATED ON JUN 07, 2019 10:40 AM IST
The rupee opened at 69.23 the interbank forex market then gained further ground to touch 69.21 per dollar amid positive opening in domestic equities.
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According to traders, investor sentiment took a hit after the RBI lowered its benchmark lending rate to nearly a nine-year low of 5.75 per cent.(Bloomberg FILE)
According to traders, investor sentiment took a hit after the RBI lowered its benchmark lending rate to nearly a nine-year low of 5.75 per cent.(Bloomberg FILE)

Sensex crashes over 450 points after RBI cuts key lending rate

By Press Trust of India | Mumbai
UPDATED ON JUN 06, 2019 02:12 PM IST
Top losers in the Sensex pack include IndusInd Bank, Yes Bank, Vedanta, SBI, L&T, M&M, Tata Steel, RIL, TCS, ICICI Bank and HDFC twins, shedding up to 5 per cent.
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Most SBI retail loans, including home loan, car loan and personal loans, are currently linked to one-year MCLR.(REUTERS File)
Most SBI retail loans, including home loan, car loan and personal loans, are currently linked to one-year MCLR.(REUTERS File)

State Bank of India cuts lending rate: Here’s how it affects you

By Vivina Vishwanathan | Hindistan Times, Mumbai
UPDATED ON APR 10, 2019 12:35 PM IST
SBI’s marginal rate cut of 5 bps comes after the Reserve Bank of India’s consecutive rate cut by 50 bps in the February and April monetary policy.
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Lenders haven’t fully passed on the central bank’s latest interest rate cut to borrowers, pressuring the monetary authority to loosen policy even more to support economic growth.(AFP)
Lenders haven’t fully passed on the central bank’s latest interest rate cut to borrowers, pressuring the monetary authority to loosen policy even more to support economic growth.(AFP)

Reserve Bank of India faces trouble getting banks to cut rates

By Anirban Nag and Rahul Satija | Bloomberg
UPDATED ON MAR 11, 2019 02:24 PM IST
Latest data from the central bank shows the main overnight lending rate offered by commercial banks has been sticky in a range of 8.15 percent to 8.55 percent since the beginning of the year.
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A Reserve Bank of India (RBI) note based on unaudited financial statements of Scheduled Commercial Banks (SCBs) up to September 30, 2018, suggests that the worst of the non-performing assets (NPA) crisis facing India’s banks might be over and that credit growth may also be back.(REUTERS)
A Reserve Bank of India (RBI) note based on unaudited financial statements of Scheduled Commercial Banks (SCBs) up to September 30, 2018, suggests that the worst of the non-performing assets (NPA) crisis facing India’s banks might be over and that credit growth may also be back.(REUTERS)

RBI note shows worst of NPA and credit growth problem may be over

UPDATED ON DEC 06, 2018 08:07 AM IST
The share of gross NPAs in total advances of banks, both in the public and private sector, peaked in March 2018, and has since declined — in both the June and September quarter of the current fiscal year. The NPA crisis is more widespread in the public sector banks.
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The Bombay Stock Exchange (BSE) building is pictured next to a police van in Mumbai.(REUTERS File Photo)
The Bombay Stock Exchange (BSE) building is pictured next to a police van in Mumbai.(REUTERS File Photo)

Sensex falls from record-high level, loses over 250 points; banks, metals drag

By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON AUG 02, 2018 11:36 AM IST
At 11.15 am,the BSE Sensex was trading 214.59 points or 0.57% lower at 37,307.03.
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Bank of India said the enhanced rates would come into effect from June 10, 2018.(Dhiraj Singh/Bloomberg)
Bank of India said the enhanced rates would come into effect from June 10, 2018.(Dhiraj Singh/Bloomberg)

Bank of India raises lending rate by 0.10% for various tenors

By Press Trust of India | Press Trust of India, New Delhi
PUBLISHED ON JUN 08, 2018 03:19 PM IST
Bank of India joins big lenders such as SBI, ICICI Bank and HDFC Bank, which have already increased their MCLR making consumer loans such as auto, home and business loans costly.
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RBI Governor Urjit Patel, at the RBI headquarters after the announcement of a 0.25% rate hike by the central bank, in Mumbai on Wednesday, June 06.(PTI Photo)
RBI Governor Urjit Patel, at the RBI headquarters after the announcement of a 0.25% rate hike by the central bank, in Mumbai on Wednesday, June 06.(PTI Photo)

RBI decision to hike interest rates was an ‘appropriate step’: IMF

By Press Trust of India | Press Trust of India, Washington
UPDATED ON JUN 08, 2018 01:02 PM IST
In the context of rising inflation and additional upside risks due to higher oil prices, exchange rate depreciation and other domestic factors, the IMF thinks that this was an appropriate step by the RBI, said the spokesman for IMF.
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Some big lenders including SBI, ICICI Bank and HDFC Bank had increased their Marginal Cost of Funds-Based Lending Rates last week(Hemant Mishra/Mint)
Some big lenders including SBI, ICICI Bank and HDFC Bank had increased their Marginal Cost of Funds-Based Lending Rates last week(Hemant Mishra/Mint)

More banks hike lending rates, EMIs for auto, home, business loans to go up

By Press Trust of India | Press Trust of India
UPDATED ON JUN 07, 2018 05:26 PM IST
Joining big banks, Indian Bank and Karur Vsya Bank informed stock exchanges about hiking the MCLR by up to 10 basis points for different tenures
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The marginal cost of funds-based lending rate (MCLR) has been reviewed at 5 basis points above existing level with effect from June 7, BoB said in a statement.(Pramod Thakur/ Hindustan Times)
The marginal cost of funds-based lending rate (MCLR) has been reviewed at 5 basis points above existing level with effect from June 7, BoB said in a statement.(Pramod Thakur/ Hindustan Times)

Loans to cost more as Bank of Baroda hikes lending rate ahead of RBI monetary policy

By Press Trust of India | Press Trust of India
UPDATED ON JUN 05, 2018 06:19 PM IST
Bank of Baroda, SBI, PNB, ICICI Bank and Union Bank are among lenders which have raised interest rains for loans ahead of the RBI monetary policy decision.
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Wednesday’s RBI meeting comes one week before a Fed policy session that’s expected to increase US rates again.(Pradeep Gaur/Mint)
Wednesday’s RBI meeting comes one week before a Fed policy session that’s expected to increase US rates again.(Pradeep Gaur/Mint)

RBI monetary policy review begins today: It’s a choice between a rate hike now and August

By Reuters | Reuters
UPDATED ON JUN 04, 2018 01:25 PM IST
The RBI’s bi-monthly monetary policy meet begins on Monday, and will go on till Wednesday, June 6, when a decision on the key lending rate of the central bank will be announced.
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A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, February 9, 2018. The raise of lending rate makes loans costlier for consumers.(Reuters File)
A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, February 9, 2018. The raise of lending rate makes loans costlier for consumers.(Reuters File)

SBI, PNB, ICICI Bank raise lending rates ahead of RBI policy review

By Press Trust of India | Press Trust of India, New Delhi
UPDATED ON JUN 01, 2018 09:19 PM IST
State Bank of India increases the lending rate by 10 basis points across all tenors up to three years.
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As the Federal Reserve gears up for more interest-rate hikes, a surging dollar is also fuelling bets that developing nations may also raise rates faster than anticipated.(Dhiraj Singh/Bloomberg)
As the Federal Reserve gears up for more interest-rate hikes, a surging dollar is also fuelling bets that developing nations may also raise rates faster than anticipated.(Dhiraj Singh/Bloomberg)

Decade-low interest rates on dollar loans set to rise for India Inc

By Mariko Ishikawa and Anurag Joshi | Bloomberg
UPDATED ON MAY 28, 2018 11:00 AM IST
In another sign of weakening demand from global banks, more Indian companies have been forced to rely on a smaller group of lenders to underwrite borrowings or to use their relationships to strike so-called club deals.
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