Reserve Bank of India (RBI) governor Shaktikanta Das is holding a press conference as market mayhem continues due to concerns coronavirus (Covid-19) pandemic. RBI Governor Press Conference LIVE: Shaktikanta Das speaks on Yes Bank:
Economists and financial experts have welcomed RBI's widely expected status quo on repo rate, and other announcements to spur economic growth and ensure money supplies effectively. The RBI on Thursday kept the key policy rate unchanged at 5.15 per cent.
Reserve Bank of India (RBI) announced that repo rate remained unchanged at 5.15% and maintained accommodative stance.
SBI Home Loan Processing Fee: India's largest lender State Bank of India (SBI) is likely to charge processing fees for home loans borrowers, top-up plans and corporate and builder loans.
In this financial year, SBI has cut its MCLR or minimum lending rate for the sixth time. However, the rate reduction is not applicable to repo-linked loans.
RBI Repo Rate Cut: The Reserve Bank of India (RBI) on Friday cut its benchmark lending rate by 0.25 per cent to revive growth that has hit a six-year low of 5 per cent. With this cut, the repo rate, at which it lends to the system, will now come down to 5.15 per cent and push consumption during the ongoing festival season. RBI's move has brought a bunch of good news for those who are looking at taking a new loan.
On the positive side, however, the impact of monetary policy easing since February 2019 is gradually expected to feed into the real economy and boost demand.
The RBI's repo rate cut comes as a boost to the ailing economic growth, as the traders will now focus on the wording and tone of the monetary policy statement for clues on further easing.
The Reserve bank of India (RBI) is expected to cut the key policy rate again for the fifth in a row on Friday to complement the government's measures like reducing corporate tax and promoting credit offtake to spur economic activity during the festive season amid range-bound inflation.
Leading state-owned lender Punjab National Bank and Allahabad Bank on Tuesday announced linking of their retail loans with the Reserve Bank's repo rate, which will make loans cheaper.
The Reserve Bank of India had raised quite a few eyebrows when it announced an unconventional 35 basis points rate cut during its bi-monthly policy meet earlier this month.
In a bid to boost demand and growth, the RBI's Monetary Policy Committee (MPC) on Wednesday announced 35 bps cut in repo rate, which eventually is expected to be transmitted to retail loans. However, a look at the recent past shows that rate cuts by the central bank are transmitted further to the end-consumer in a proportionate manner.
The Reserve Bank of India (RBI) has cut the repo rate by 35 basis points to 5.40 per cent.
The report noted that the distress in some of the sectors along with uncertainty in global trade is expected to weigh on IIP.
The reverse repo rate falls to 5.75 percent.
The inflation rate was estimated at 3.2-3.4 per cent in the first half of the year 2019-20 and 3.9 per cent in the third quarter of 2019-20.
The inflation rate was estimated at 3.2-3.4 per cent in the first half of the year 2019-20 and 3.9 per cent in the third quarter of 2019-20.
The key rate remains at 6.5 per cent. This is for the second time in a row that the central bank did not tinker with the interest rate.
RBI hikes repo rate by 25 bps to 6.5%, home loans set to get costlier
This the first time since October 2013 that the RBI has hiked borrowing costs at two consecutive policy meetings.
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