Mumbai: State-run banks are likely to give in to a government directive and lower lending and deposit rates within the next few days after the Reserve Bank of India (RBI) made a deeper than expected cut to its policy rate on Tuesday. Banks had been reluctant to cut their lending rates despite a reduction in their reserve requirements, saying tight cash conditions were keeping deposit rates high and deposit growth...
05:43 PM, Apr 19, 2012
New Delhi: Car makers are hoping that bank will reduce interest rates on car loans following the RBI's cut on lending rates as the industry looks forward to overcome slow growth witnessed last fiscal. Describing RBI's cut in short term lending rate by 0.50 per cent to 8 per cent as "good direction", Maruti Suzuki India Managing Executive Officer Marketing and Sales Mayank Pareek said: "It will spur growth. I...
03:50 PM, Apr 17, 2012
The Reserve Bank of India (RBI) on Tuesday cut the repo rate by 50 basis points from 8.5 per cent to 8.0 per cent. ...
01:46 PM, Apr 17, 2012
Mumbai: The Reserve Bank of India (RBI) on Tuesday cut the repo rate by 50 basis points from 8.5 per cent to 8.0 per cent but did not touch the cash reserve ratio, which remains at 4.75 per cent. The cut in the repo rate is an indication that banks could reduce the interest rates on home and car loans. Tuesday's rate cut announced by the RBI in its annual...
11:14 AM, Apr 17, 2012
Mumbai: The Reserve Bank of India (RBI) said inflation was likely to remain near current levels during the fiscal year, with risks still to the upside, sounding a cautious note a day before it is expected to cut its policy interest rate for the first time in three years. Earlier on Monday, India reported annual wholesale price index (WPI) inflation for March at 6.89 per cent, mainly driven by higher...
05:36 PM, Apr 16, 2012
Mumbai: The Reserve Bank of India (RBI) left interest rates unchanged on Thursday and warned of resurgent inflation risks, a hawkish stance that disappointed investors clamoring for the first rate cut since the aftermath of the global financial crisis. The RBI kept its policy repo rate on hold at 8.50 per cent, as had widely been expected. It kept the cash reserve ratio unchanged at 4.75 per cent after a...
06:02 AM, Mar 16, 2012
New Delhi: Government on Thursday slashed interest rate on deposits in Employees Provident Fund from 9.5 per cent to 8.25 per cent for 2011-12 affecting over 4.7 crore subscribers. This cut was proposed by the Finance Ministry and a notification was issued by the Labour Ministry, official sources said. The Employees' Provident Fund Organisation (EPFO) had provided 9.5 per cent interest rate to its subscribers for 2010-11 after it found...
10:48 PM, Mar 15, 2012
Chennai: India's central bank is open to more open market operations to address the issue of liquidity, said a senior official on Monday. "We are open to more open market operations if the liquidity issue needs to be addressed. The cut in CRR (cash reserve ratio) is purely a liquidity measure. It has put in Rs.32,000 crore," Subir Gokarn, deputy governor of Reserve Bank of India (RBI) told reporters here...
03:54 AM, Jan 31, 2012
The RBI has increased interest rates 13 times since March, 2010, to contain inflation and India Inc has been demanding a cut in the rates to arrest declining economic growth. ...
07:49 AM, Jan 24, 2012
New Delhi: Ahead of the monetary policy review by RBI, Commerce and Industry Minister Anand Sharma on Monday made out a strong case for lowering of interest rates in the wake of industrial slowdown. "We are of considerate view that interest rates for investment for industry should be lowered. We have taken up with the Finance Minister who is receptive and positive particularly for small and medium enterprises," Sharma told...
05:03 PM, Jan 23, 2012
Mumbai: The Reserve Bank of India (RBI) will not cut interest rates at its review on Tuesday, although it is nearly unanimously expected to do so by the end of June, a Reuters poll of 22 economists showed. Seven out of 20 respondents expect the RBI to cut banks' cash reserve ratio (CRR), the proportion of deposits that must be held with the central bank, by 25 or 50 basis...
04:36 PM, Jan 18, 2012
New Delhi: Chief Economic Advisor to the Indian Government Kaushik Basu, in an interview with Rajdeep Sardesai, said that there is a risk of politics scoring over economy and hoped politics does not come in the way of determining petrol prices. Excerpt of the interview: Rajdeep Sardesai :Let's go straight across to the Chief Economic Advisor to the Finance Minister Mr Kaushik Basu. I appreciate your joining on CNN-IBN. Mr...
07:49 PM, Jan 02, 2012
Mumbai: The Reserve Bank of India (RBI) is now focussing more on growth after a long spell of rate hikes to curb inflation. In its mid-quarter monetary policy announced on December 16, the banking regulator has kept its key policy rates unchanged: Cash reserve ratio (CRR) at 6 per cent, repo rate at 8.5 per cent, reverse repo at 7.5 per cent and statutory liquidity ratio (SLR) is at 24...
03:46 PM, Dec 16, 2011
Mumbai: The Reserve Bank of India (RBI) left the interest rates unchanged while announcing its credit policy on Friday and indicated that it could also bring down key policy rates in the near future to arrest falling growth while keeping a close watch on inflation. The credit policy left the Repo rate unchanged at 8.5 per cent while the Cash Reserve Ratio (CRR) will remain at 6 per cent. While...
12:17 PM, Dec 16, 2011
CNBC TV18's Banking Editor Latha Venkatesh explains how the decision's taken at the RBI's credit policy meet on Friday will impact consumers. ...
08:10 AM, Dec 16, 2011
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