RBI mandates banks to link fresh retail loans to external benchmark

All public sector banks have moved to such a regime voluntarily, while private banks are yet to. The state-run banks have introduced repo-linked products for floating-rate home and auto loans, but......

Interest on home, auto loans to be linked to new benchmarks from April 1

The final guidelines to link the interest rate to external benchmarks will be issued by the end of this month Illustration: Uttam Ghosh/Rediff.com In a bid to ensure greater transparency, the RBI......

Rupee suffers biggest slump in 6 yrs; closes at 4-mth low of 70.73

Investors are anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue. Illustration: Uttam Ghosh/Rediff.com The rupee on Monday crashed by 113 paise......

Rupee touches fresh record low despite RBI succour

Strong month-end demand for the US currency mainly from oil importers along with currency futures expiry related purchases predominantly weighed heavily on the forex market and haunted investor......