Indian Central-Bank Members Diverge On Further Rate Hikes As Growth Risks Emerge
The Reserve Bank of India (RBI) kept its key lending rate steady for a second straight meeting on June 8, as widely expected, but signalled monetary conditions will remain tight for some time as it looks to further curb inflationary pressures.
Jun 22, 2023, 23:27 PM IST
BoB, IOB Hike Lending Rates On Loans; SBI Marginally Ups Deposit Rates
State Bank of India (SBI) on Wednesday increased the MCLR-linked loans by 10 bps across the overnight and up to three year category of loans -- varying from 7.95 per cent to 8.70 per cent, effective February 15.
Apr 16, 2023, 09:56 AM IST
Canara Bank Revises Home, Other Loan Interest Rates: Check How Much EMIs Will Go Up
The overnight MCLR was raised by Canara Bank by 35 basis points to 7.90 percent, and the one-month MCLR was raised by 45 bps to 8 percent.
Mar 11, 2023, 15:06 PM IST
Unlike Other Lenders, Canara Bank Cuts Lending Rate by 15% Amid Repo Rate Hike by RBI
Reserve Bank of India (RBI) hiked the repo rate the sixth time to 6.50% in the February 6-8 Monetary Policy Committee meeting to rein high inflation.
Feb 11, 2023, 07:40 AM IST
Canara Bank launches a special FIXED DEPOSIT scheme offering 7.5% interest rate; Check benefits, tenure and more
Public lender Canara Bank has unveiled a special fixed deposit scheme for a tenure of 666 days offering upto 7.5% interest rate. The plan is for the amount under Rs 2 crore.
Oct 08, 2022, 16:07 PM IST
Canara bank hikes benchmark lending rate; Check the new rates
Now the benchmark one-year MCLR will be 7.75 % from the earlier 7.65 %. The one-year benchmark is used to fix most customers loans such as auto, personal, and home loans.
Sep 06, 2022, 15:27 PM IST
IDBI Bank cuts lending rate by up to 0.25%
State-run IDBI Bank on Tuesday cut its marginal cost of funds based lending rate (MCLR) by up to 0.25 per cent, further establishing the downward trend in interest rates due to the excess liquidity.
May 09, 2017, 23:47 PM IST
PNB revises down lending rate by 0.10-0.15%
Public lender Punjab National Bank has revised down marginal cost based lending rates by 0.10- 0.15 per cent for various maturities effective Monday.
May 01, 2017, 16:43 PM IST
There is more room for lending rate cuts: HDFC Bank CEO Puri
Even though the RBI left the policy rates unchanged at the last policy meet citing upside risks to inflation, borrowers can expect lower rates going forward with second largest private lender HDFC Bank today saying there is more room for banks to lower lending rates.
Feb 17, 2017, 20:49 PM IST
All finance ministers have perpetual desire for lower rate: FM
Finance Minister Arun Jaitley today said that he expected the RBI to cut interest rate but respect its decision to hold status quo.
Feb 11, 2017, 15:55 PM IST
RBI Governor nudges banks to reduce lending rates
RBI Governor Urjit Patel today exhorted banks to reduce their lending rates to push credit demand in laggard segments, saying banks have benefited from influx of low-cost deposits and its previous repo rate cuts.
Feb 11, 2017, 15:24 PM IST
Lending rate cuts to boost economy, push consumption: Industry
With lenders such as SBI, PNB, Union Bank of India and IDBI slashing benchmark lending rate, India Inc on Monday said the move will act as a "booster dose" for the economy and propel consumption as lending may pick up significantly.
Jan 02, 2017, 16:10 PM IST
Home, auto, personal loans get cheapest in 6 years as banks slash lending rate
Improvement in funds flow after demonetisation, major public sector banks in the country have set off a regime of low interest rates on consumer loans like home and auto loans.
Jan 02, 2017, 12:01 PM IST
Large amount of black money has come into banking system, remonetisation progressing well: Arun Jaitley
Talking of the positive outcome of the demonetisation undertaken by government on November 8, 2016, Finance Minister Arun Jaitley said on Sunday that large amount of money, including black money, has come into the banking system.
Jan 01, 2017, 12:16 PM IST
Exim Bank lowers lending cost by 0.25%
In a bid to promote project exports, Export-Import Bank of India (Exim Bank) has lowered its credit cost by 0.25 percent.
Nov 06, 2016, 17:34 PM IST
New lending rate system will perhaps take 6 months or more to work: Deepak Shenoy
Deepak Shenoy, market expert and founder of Capital Mind, talks about the current fiscal scenario and effect of the recent RBI rate cut on the Indian economy
Apr 14, 2016, 14:23 PM IST
Axis Bank lowers lending rate by 15 bps to 8.95%
Axis Bank, the third largest private sector lender, on Tuesday announced a cut in its lending rate by 0.15 percent to bring it at par with its larger rivals.
Apr 12, 2016, 20:36 PM IST
RBI for uniform methodology for calculating base lending rate
To ensure effective transmission of its policy rate decisions by banks, RBI Tuesday proposed a uniform methodology for calculation of their base lending rates on the basis of marginal cost of funds.
Sep 01, 2015, 23:36 PM IST
Loans to be cheaper as HDFC Bank, Canara cut lending rate
Starting a fresh round of rate cuts after repeated calls from RBI, private lender HDFC Bank and state-run Canara Bank Monday lowered their lending rates by up to 0.35 percent, a move that will make home and other loans cheaper for consumers.
Aug 31, 2015, 22:56 PM IST
Ex-UBS, Citigroup trader convicted in UK of Libor rigging
A trader who worked for UBS and Citigroup on Monday became the first person to be convicted by a jury in Britain of rigging the benchmark Libor inter-bank lending rate.
Aug 03, 2015, 20:40 PM IST
