Mumbai: State Bank of India, the country's largest lender, will cut lending rates on loans that have high interest rates, Chairman Pratip Chaudhuri said on Tuesday. Earlier in the day, the Reserve Bank of India cut its repo rate for the first time in three years by an unexpectedly sharp 50 basis points to give a boost to flagging economic growth. But it also warned that there is limited scope...
03:55 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: In a bid to boost growth, the Reserve Bank of India (RBI), in its annual monetary policy for 2012-13 , has cut the policy rates by 50 basis points. The repo rate now stands at 8 per cent from 8.50 per cent earlier. Similarly, the reverse repo rate is now at 7 per cent from 7.50 per cent earlier. Lauding the central bank, C Rangarajan, chairman of Prime Minister's...
01:12 PM, Apr 17, 2012
Mumbai: The following are the highlights of the Annual Monetary Policy for 2012-13 announced by the Reserve Bank of India (RBI) Governor D Subbarao on Tuesday: * Short term lending rate (repo) lowered by 0.50 per cent to 8 per cent. * Cash reserve ratio retained at 4.75 per cent. * GDP growth for 2012-13 projected at 7.3 per cent. * March-end, 2012-13 inflation expected at 6.5 per cent. *...
12:52 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. Following is the full text of RBI's Monetary Policy for...
11:35 AM, 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
New Delhi: Home and car loans may get cheaper as the Reserve Bank of India (RBI) signalled a possible interest rate cut to boost economy at its annual credit policy on Tuesday. The government said on Monday that inflation had slightly eased in March, a day before what is forecast to be the first interest rate cut in three years, but a cautious tone from the Reserve Bank of India...
07:46 AM, Apr 17, 2012
Mumbai: Country's largest lender SBI on Saturday said it will reduce lending rate if the Reserve Bank reduces cash reserve ratio in the credit policy later this month. "We expect a CRR (Cash Reserve Ratio) cut of 75 basis points. If it happens we will definitely pass the benefit to the consumers," State Bank of India (SBI) Chairman Pratip Chaudhuri said on the sidelines of 6th International Banking and Finance...
06:42 PM, Apr 07, 2012
Due to the government's dire situation, especially when it comes to the fiscal deficit, Chief Economic Advisor Kaushik Basu tells CNBC-TV18 that the mantra this year is going to be fiscal consolidation. "Fiscal consolidation is definitely on the cards because the lack of it will have an adverse effect on prices and economic growth," he said. However, he isn't confident of many reforms going through this year. The author of...
07:27 AM, Mar 16, 2012
New Delhi: Real estate developers on Thursday expressed disappointment over the RBI's decision to keep key policy rates unchanged and sought a cut in interest rate to boost housing demand. "We are very disappointed at this gesture by the RBI. The economic condition is getting worse day by day. The Government and the RBI should understand the need of the hour and reduce cost of funds," Confederation of Real Estate...
12:29 PM, Mar 15, 2012
Mumbai: The Reserve Bank of India (RBI) has left key policy rates untouched on Thursday mainly on the back of high fiscal deficit and rising crude oil prices. The central bank has not cut rates for more than two years. In this period, the repo rate, which is the rate at which banks borrow money from RBI, has gone up by 3.5 per cent to 8.5 per cent. The Reserve...
11:19 AM, Mar 15, 2012
Mumbai: The BSE Sensex snapped four-day winning streak on Thursday, losing as much as 297 points intraday after the RBI's dovish tone in its monetary policy review and left policy rates unchanged. Even profit booking ahead of big event Union Budget 2012-13 (on Friday) may be another reason for driving the Nifty below 5400 level. The most worried point for the market today is that high expectations from RBI. The...
09:18 AM, Mar 15, 2012
Mumbai: Banks are likely to reduce lending rates for select sectors and may see an improvement in their net interest margins after the RBI cut cash reserve requirements for banks, top bankers said. The lending rates may be reduced for segments which are seeing higher demand for credit and lower level of defaults, Pratip Chaudhuri, chairman of State Bank of India, the country's top lender, said. The banks, however, did...
10:40 AM, Jan 25, 2012
New Delhi: The Reserve Bank of India (RBI) cut the cash reserve ratio (CRR) by 50 bps to 5.50 per cent which will be effective from January 28 and held repo rate steady at 8.5 per cent. The move will eases tight liquidity in the banking system and underscore a policy shift from fighting inflation to reviving growth. The CRR cut will infuse Rs 32,000 crore into banks. The reverse...
11:09 AM, Jan 24, 2012
Mumbai: The Nifty closed at more than 2-month high on heavy volumes, rising 1.5% in reaction to the 50 basis points cut in cash reserve ratio (funds that banks have to keep with RBI) by the Reserve Bank of India. Index heavyweights L&T, SBI, ICICI Bank and Reliance Industries were the main drivers on Tuesday. The Sensex rose 244.04 points, to close at 16,995.77 - a tad below the 17,000...
09:39 AM, Jan 24, 2012
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