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
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
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
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
New Delhi: Deeply worried at negative growth in industrial output, particularly the manufacturing sector, India Inc on Monday warned of job losses and said RBI should immediately bring down interest rates to stimulate investment. Industry body Confederation of Indian Industry (CII) said a sharp decline in the capital goods sector is of particular concern, as it indicates lack of investment, which will continue to be a drag on growth. "If...
08:41 PM, Dec 12, 2011
Mumbai: The Reserve Bank of India (RBI) on Wednesday hiked interest rates on Non-Resident (External) Rupee term deposits and Foreign Currency Non-Resident (Banks) deposits, a move expected to increase the flow of foreign exchange amid the weakening domestic currency. "Interest rates on fresh Non-Resident (External) Rupee (NRE) Term Deposits for 1-3 years maturity should not exceed the LIBOR/SWAP rates plus 275 basis points, as on the last working day of...
09:48 PM, Nov 23, 2011
Kiran Bedi's travel agent quits her trust. Loans to get costlier as RBI hikes rates again. ...
11:18 PM, Oct 25, 2011
New Delhi: Worried over rising prices, Finance Minister Pranab Mukherjee on Friday said the government has to tackle the supply side constraints, a major reason for double digit food inflation. "I am worried that food inflation has reached double digit figure. The last week figure was 10.62 per cent. Of course, for previous two weeks it was perilously close to double digit figure. But it crossed that limit," Mukherjee said...
02:09 PM, Oct 21, 2011
New Delhi: The Reserve Bank is planning to make its Web interface more interactive with a presence on social networking sites like Twitter, blogs and other online discussion forums. The RBI is conducting a Web survey where it is asking the visitors to its website whether they would like features like discussion forum, blog, live chat, Twitter (for information dissemination) and opinion polls on the site. A number of organisations...
11:50 AM, Oct 02, 2011
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