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 a cut of 25 basis points (or 0.25 per cent) in its policy in May and may be by another 25 bps in the next review," HDFC Bank Chief Economist Abheek Barua said.
RBI Governor D Subbarao will announce the Monetary Policy Statement 2013-14 on May 3, 2013.
YES Bank Chief Economist Shubhada Rao said RBI may cut the repo rate or the short-term lending rate by about 0.25 per cent in May as inflation has come down and there is a need to fuel economic growth....
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11:30 AM, Apr 21, 2013
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 will also remain competitive and I think that is something which we will roll out in the next few weeks,"...
12:27 PM, Oct 14, 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 to cut the CRR yesterday," State Bank's Chairman Pratip Chaudhuri said late on Tuesday evening. The bank's Asset Liability...
11:06 PM, Sep 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. ...
12:21 PM, Jun 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 statement, "On the basis of an assessment of the current macroeconomic situation, it has been decided to: keep the...
11:10 AM, Jun 18, 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," he said. "The monetary policy announcements should help in investment revival and contribute to strengthening of business sentiments. In...
04:57 PM, Apr 17, 2012
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 net interest income for the September quarter is also pretty good. That is why we didn't think it was...
07:27 PM, Oct 05, 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 as many indicators point to moderating growth, both headline and non-food manufactured products inflation are at uncomfortably high levels....
01:01 PM, Sep 16, 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, by 75 bps (0.75 per cent) to 9.25 per cent. The new rate is effective from May 12, the lender said in a statement. The hike in...
08:23 PM, May 10, 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 by Reserve Bank of India means for you and me. Banks normally take the signaling rate as an...
04:35 PM, Jan 25, 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 Friday announced special lower home loan rates for the first few years which are, however, higher than the...
06:56 AM, Jan 01, 2011
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 has been narrowed down and still inflationary pressure is there in the system," Mukherjee told reporters in New Delhi....
04:39 PM, Sep 16, 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 be 13.25 per cent. On Monday, State Bank of India, the country's largest lender, had said it was raising...
08:53 AM, Aug 17, 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 1 this year, stands at 7.5 per cent. The state-run lender also increased its fixed deposit rates by up...
01:19 PM, Aug 16, 2010
It introduced the new base rate to ensure that larger borrowers do not bargain for cheaper rates from banks. ...
04:20 PM, Jun 29, 2010
Amount banks need to keep in govt securities raised. ...
11:36 AM, Oct 27, 2009
The BPLR of the bank currently stands at 12.25 per cent. ...
12:07 AM, Jun 25, 2009
Pranab reminds banks they haven't passed on RBI's benefits. ...
01:37 PM, Jun 10, 2009
All the existing floating rate customers to benefit from the cut, said the Bank. ...
12:50 PM, Jun 04, 2009
This seems to be Pranab Mukherjee's welcome gift to the
aam admi. ...
03:16 AM, May 28, 2009
