Israel Weapons Industries (IWI) has delivered the first batch of NEGEV 7.62x51 light machine guns to India under the 'Make in India' initiative, marking a significant step in India-Israel defence cooperation and indigenous defence manufacturing.
During the financial year 2025-2026, the defence ministry has signed a total of 182,492 crore capital acquisition contracts, highlighting the government's push to modernise the armed forces and promote indigenous defence production.
The Indian Army is equipping its infantry battalions with drone platoons and raising elite commando units as part of a modernization drive to enhance combat capabilities along the northern and western frontiers. The Army is also procuring new carbines and upgrading its arsenal with advanced weaponry.
The Reserve Bank of India is likely to introduce benchmark prime lending rate based on various parameters like actual cost of funds, operating expenses and non-performing assets by October this year.\n
The cost of deposits is on the rise, but banks can't raise interest rate on close to 60% of their loan books, points out Tamal Bandyopadhyay.
The company will raise $1.8 billion for the under construction and contracted portfolio of 12 GW, which includes the country's first manufacturing-linked solar power plant of 8 GW.
A host of public sector banks had cut interest rates in the earlier part of this year following an advisory from Finance Minister P Chidambaram in January. Private and smaller state-owned banks, however, did not cut rates.
Shifting to floating rate deposits can work as an anaesthetic gel for some customers, points out Tamal Bandyopadhyay.
State Bank of India has fixed its benchmark prime lending rate at 10.25 per cent, 0.25 per cent below the existing PLR, which is 10.5 per cent
You would find NBFCs more willing to lend even if you have a poor credit score, says Adhil Shetty
Under the earlier scheme, borrowers were charged fixed interest rate of 8.5 per cent for Year 2 and Year 3 for loan amount less than Rs 50 lakh (Rs 5 million) and a rate of 9 per cent for first three years for loan amount of greater than Rs 50 lakh. Year 4 onward the interest rate was fixed at PLR minus 2.75 basis points.
Under the earlier scheme, borrowers were charged fixed interest rate of 8.5 per cent for Year 2 and Year 3 for loan amount less than Rs 50 lakh (Rs 5 million) and a rate of 9 per cent for first three years for loan amount of greater than Rs 50 lakh. Year 4 onward the interest rate was fixed at PLR minus 2.75 basis points.
Housing Development Finance Corporation, India's largest mortgage financier, today increased its retail prime lending rate by 50 basis points to 14.25 per cent. This is the first time HDFC is increasing its PLR in two years.
Punjab National Bank (PNB), the country's third largest lender, followed its peers to lower its benchmark rate, giving in to the government's wish that rates needed to fall to boost consumer lending.
Public sector lenders led by State Bank of India said on Monday that they will look at further interest rate cuts.SBI chairman O P Bhatt told reporters after a meeting with Finance Minister Pranab Mukherjee that the bank is considering cutting its prime lending rate for the second time in as many months.
The soft interest rate regime is now over with the rates on government securities likely to harden for at least two years, economic think tank Institute of Economic Growth has said.
If you have availed a home loan from an NBFC, you can shift your existing home loan to a bank and benefit from the MCLR regime, suggests Ratan Choudhary, head - home loans, Paisabazaar.com.
"We are open for further reduction in prime lending rate," Indian Banks Association Chairman Dalbir Singh said in New Delhi while addressing a seminar organised by PHD Chamber of Commerce.
The final guidelines to link the interest rate to external benchmarks will be issued by the end of this month
A dummy's guide to all you must know about before availing an education loan
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
The big beneficiaries of this move will be the big three -- Bharti, Vodafone and Idea.
Most bankers say they will look at reducing deposit rates from April.
In putting the country's economy back on the rails, it is best that Narendra Modi and Arun Jaitley draw on grass-roots feedback and their own practical sense and native wisdom without allowing themselves to be sucked into the quicksand of economic punditry, says B S Raghavan.
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