Lending Rate

  • India Inc disappointed by hike in repo rate by RBI September 20, 2013

    Expressing disappointment over the hike in repo rate by the RBI, India Inc on Friday said a rate cut by the bank would have helped ameliorate sentiments as businesses are "reeling" under a tight liquidity crunch due to high cost of capital. "High interest rate has been identified as a major...
  • SBI increases its minimum rate of lending to 9.80 per cent, makes loans costlier September 19, 2013

    The country's largest lender, State Bank of India, on Thursday said it increased its base rate, or the minimum rate of lending, to 9.80 per cent, a day ahead of the RBI's policy review. "State Bank of India has revised the base rate by 0.10 per cent from 9.70 per cent...
  • ICICI Bank raises base rate by 0.25 per cent to 10% August 22, 2013

    Mumbai: ICICI Bank, the country's largest private sector lender, on Thursday increased its lending rate by 0.25 per cent to 10 per cent with effect from Friday. The bank also effected a similar hike in its prime lending rates, which will be applicable to existing customers who are on the...
  • Economy can be built back to 8 per cent growth rate: Chidambaram July 29, 2013

    Ahmedabad: Finance Minister P Chidambaram on Monday said the economy can be build back to register the eight per cent growth rate. The remarks came at a time when the economy is growing at around 5 per cent and current account deficit and inflation are the biggest worries of the...
  • If RBI can't cut CRR, let them pay us interest on it: SBI June 17, 2013

    Mumbai: Ahead of the mid-quarter review of monetary policy on Monday, the State Bank of India has said if the apex bank cannot reduce CRR rate, which is a must for lending rate cuts by banks, they should pay interest on cash reserves that banks park with the monetary authority....
  • 'RBI may cut benchmark lending rate by 0.25 pc in May' April 21, 2013

    New Delhi: The Reserve Bank may cut the benchmark short-term lending rate by about 0.25 per cent in its annual monetary policy in May in the backdrop of declining inflation and the urgency to promote growth, say economists. "Right now conditions should enable the RBI to cut repo rate. We expect...
  • HDFC Bank to take call on lowering lending rates soon October 14, 2012

    Mumbai: HDFC Bank is planning to take a call on lowering its lending rates in certain retail products during the upcoming festive season, a senior official said. "From a tactical point of view, we will respond to the market, remain competitive...if the market is moving in a certain direction, we...
  • SBI cuts base rate by 0.25 pc to 9.75 per cent September 18, 2012

    Mumbai: Acting on the cue from the Reserve Bank of India (RBI), the State Bank of India (SBI) on Tuesday announced a reduction in the minimum lending rate by 0.25 per cent, giving relief to all types of borrowers. "The cut in base rate was driven largely by the RBI's decision...
  • High inflation must have influenced RBI's decision: Pranab June 18, 2012

    The Reserve Bank of India on Monday kept the repo rate and the cash reserve ratio unchanged at 8.0 per cent and 4.75 per cent respectively, dashing market hopes of a 25 basis point cut. ...
  • RBI surprise: No rate cut, repo, CRR unchanged June 18, 2012

    New Delhi: The Reserve Bank of India (RBI) at its mid-quarter monetary policy review on Monday kept the repo rate and the Cash Reserve Ratio (CRR) unchanged at 8.0 per cent and 4.75 per cent, respectively, dashing market hopes of a 25 basis point cut. The central bank said in a...
  • Lending rate cut to boost investment: Pranab April 17, 2012

    New Delhi: The Reserve Bank's decision to cut lending rate by 0.50 per cent will encourage investments, Finance Minister Pranab Mukherjee said on Tuesday, while assuring the government will also take additional steps to boost growth and control price rise. "The growth, which has weakened in past months, should now improve,"...
  • State Bank of India rules out lending rate hike October 5, 2011

    Mumbai: The country's largest lender State Bank of India (SBI) on Wednesday said it was not in favour of hiking lending rates despite the Reserve Bank's 12th consecutive rate increase last month. "We had contemplated that (interest rate hike). Right now indications are that the margins are quite robust and the...
  • RBI's mid-quarter policy review: Sept 2011 September 16, 2011

    New Delhi: Since the Reserve Bank's first quarter review of July 26, the global macroeconomic outlook has worsened. There is growing consensus that sluggishness will persist longer than earlier expected. Concerns over the sovereign debt problem in the euro area have added further uncertainty to the prospects of recovery. Domestically, even...
  • SBI hikes lending rates, loans to get dearer May 10, 2011

    Mumbai: Country's largest lender SBI on Tuesday announced a hike in lending rates by 75 basis points (bps), making housing, auto and other loans dearer for both new and existing borrowers. State-owned SBI has increased the base rate, or the minimum lending rate,...
  • RBI rate hike will not bother you immediately January 25, 2011

    Mumbai: The Reserve Bank of India on Tuesday raised its key short-term lending and borrowing rates by 0.25 per cent each with immediate effect. The short-term lending (repo) rate has been hiked to 6.50 per cent and the borrowing (reverse repo) to 5.50 per cent. Here is what the hike in rates...
  • SBI, ICICI, HDFC hike interest rates by up to 1pc January 1, 2011

    Mumbai: SBI and ICICI Bank raised their lending and deposit rates on Friday. While the hike in lending rate would make auto, home and commercial loans expensive, increase in deposit rates will ensure better returns for depositors. HDFC bank is hiking its interest rates by 1 per cent from Saturday. SBI on...
  • RBI's move will help check inflation: Pranab September 16, 2010

    New Delhi: Finance Minister Pranab Mukherjee on Thursday said the Reserve Bank's move to raise its short term lending and borrowing rates is in the right direction as inflationary pressures are still there in the economy. "I think it (the RBI move) is in the right direction because now the corridor...
  • Now, ICICI raises lending, deposit rate August 17, 2010

    MUMBAI: ICICI Bank, India's second-largest lender, said it was raising its lending rates by 50 basis points from Wednesday, in line with the Reserve Bank of India's tightening policy. The private-sector lender said its prime lending rate would be 16.25 per cent and the floating reference rate for consumer loans would...
  • SBI raises lending rate, loans to cost more August 16, 2010

    New Delhi: State Bank of India, the country's largest lender, on Monday raised benchmark lending rate by 50 basis points to 12.25 per cent, making home, vehicle and other corporate loans linked with the rate costlier to existing borrowers. However, for new borrowers the base rate, which became effective from July...
  • SBI sets base rate at 7.5 per cent June 29, 2010

    Mumbai: State Bank of India, India's largest lender, on Tuesday set its base rate for loans at 7.5 per cent, as part of a new rule that requires banks to set their minimum lending rates. The base rate would be effective from July 1. The bank introduced the new lending rate system...
  • Central bank keeps lending rates unchanged October 27, 2009

    Mumbai: Concerned over creeping inflation, the central bank on Tuesday slightly tightened its monetary policy for this fiscal while retaining most policy rates, with signs of an industrial recovery providing the necessary cushion. A hike of 100 basis points in the statutory liquidity ratio, while maintaining status quo on all other...
  • SBI cuts lending rate by 50 bps, loans get cheaper June 25, 2009

    Mumbai: State Bank of India, the country's largest lender, on Wednesday slashed its benchmark lending rate by half a percentage point to 11.75 per cent that would benefit home, car and corporate loan customers. The Benchmark Prime Lending Rate (BPLR) was revised down by 50 basis points effective June 29,...
  • FM seeks easy loans, asks banks to help June 10, 2009

    New Delhi: Finance Minister Pranab Mukherjee on Wednesday said banks should provide credit at reasonable rates to spur growth, saying cuts in official rates by the Reserve Bank of India had not been passed on. "It is said that the reduction in key rates by RBI is not getting adequately reflected...
  • ICICI Bank slashes benchmark lending rate by 50 bps June 5, 2009

    Mumbai: The country's largest private sector lender, ICICI Bank, on Thursday slashed its benchmark lending rate by 50 basis points to 15.75 per cent, a move that would benefit the bank's home, auto, consumer and corporate loan borrowers. The benchmark advance rate (I-BAR) will be reduced by 50 basis points to...
  • PSU banks agree to cut lending rates by 1-1.5 pc May 28, 2009

    New Delhi: It took some nudging by the Finance Ministry, but Pranab Mukherjee's welcome gift to the aam admi is here – public sector banks have agreed to cut lending rates by 1 to 1.5 per cent over the next two weeks. After the rate cut is done the Finance...
  • HDFC cuts home loan rates for existing customers March 25, 2009

    Mumbai: Bringing some relief to millions of its borrowers, HDFC, the country's biggest mortgage lender, on Tuesday cut its lending rates on home loans by 0.5 per cent to 14 per cent effective from Wednesday. With Tuesday's reduction, HDFC's Retail Prime Lending Rate (RPLR) stands reduced at 14 per cent. The...
  • SBI hints at further cut in lending rates February 3, 2009

    New Delhi: There is still room for a cut, says State Bank of India (SBI). On Saturday, India's largest public sector bank capped floating home loan rates at eight per cent for a year. Chairman O P Bhatt says it can fall further and has extended the scheme. “It is...
  • PSU banks to cut interest rates, says IBA Chairman February 2, 2009

    New Delhi: Heads of state-owned banks are meeting in the capital to take a view on interest rate cuts, which may be more than 50 basis points, and firm up steps to increase the flow of credit to industry, reeling under the impact of slowdown. "Apart from interest rates, there are...
  • SBI contemplating further cut in lending rates: Bhatt February 2, 2009

    New Delhi: The country's top public sector lender, State Bank of India, today said it is considering further reduction in lending rates. "There is thinking (on these lines)," SBI Chairman O P Bhatt said when asked if there is a possibility of reducing the benchmark prime lending rate (PLR) by...
  • SBI cuts lending rate, plans to raise funds November 6, 2008

    Mumbai: State Bank of India (SBI), India's biggest lender, is cutting its main lending rate by 75 basis points and will raise $1-$2 billion this year to help tide over tight liquidity conditions, its chairman O P Bhatt said on Thursday. O P Bhatt said a lack of liquidity was a...