The softer interest rate regime and boom in housing, retail and infrastructure sectors boosted credit of banks by Rs 1,19,684 crore (Rs 1,196.84 billion) last fiscal.
Home loans rates may have gone up, but banks seem to be in no hurry to hoist their benchmark prime lending rates.
Expecting the Reserve Bank of India to maintain stable and soft interest rates in credit policy, State Bank of India on Wednesday hinted at further cut in home and consumer loan rates.
The Reserve Bank of India on Tuesday kept the bank rate untouched at six per cent but raised the repo rate by 0.25 per cent to 4.75 per cent effective from Wednesday.
The Reserve Bank of India governor Bimal Jalan has hinted at an upward revision of GDP and likely downward movement of inflation in view of food prices coming down following a good monsoon.
Reserve Bank of India reiterated on Tuesday that the economy will grow at six per cent during 2003-04.
The Reserve Bank of India on Tuesday cut the bank rate by 0.25 per cent to 6 per cent with effect from close of business hours.
Reserve Bank of India governor Bimal Jalan said on Monday there was no urgency to review the central bank's stance on the bank rate as announced in its October credit policy statement.\n\n
Rajan would slow down some of the expansion of money and it ought to have little effect on the real economy.
According to the global financial services major, since the last RBI policy meet, data suggest accelerating growth and surprisingly mild inflation, both at the core and headline level.
Falling sales since demonetisation has alarmed CEOs, who want to save cash till the economy recovers.
Foreign investors keeping off; inflows into bonds also likely to improve if RBI resumes rate cuts.
According to official figures, retail inflation in June touched its lowest mark at 7.31 per cent since January 2012.
The Reserve Bank of India, in its Second Bi-Monthly Monetary Policy Statement for 2014-15, kept the key interest rate unchanged at 8 per cent.
The price of vegetables in general rose by 77.81 per cent making life difficult for the common man.
Assocham expressed concern over the precarious situation that the manufacturing sector is in, observing that if the trend does not reverse with monetary and fiscal measures it would be difficult for the industry to generate jobs.
According to the global financial services major, FIIs have recouped around 25 per cent of the outflows seen over the June-August period, when the country witnessed its sharpest bout of FII outflows since the global financial crisis.
he hike in service tax rate from 12.5 per cent to 14 per cent will increase the costs of buying
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
Tomorrow's review could also turn out be the last policy anchored by Rajan if the proposed Monetary Policy Committee (MPC) is put in place before the next review due on August 9.
'Markets are likely to remain choppy for the next 6 months.'
.jpg)
According to the global financial services major, the primary concern for the RBI at the moment has to be anchoring elevated inflation expectations and stabilising the currency, which could face renewed pressures if the Fed begins QE tapering this week, as widely expected.
NBFCs are allowed to include registration, stamp duty
Credit profiles have turned healthier from a year ago
Costlier onion and other vegetables pushed up inflation for the third month in a row to 6.1 per cent in August, making it difficult for the RBI to cut rate in the monetary policy review due later this week.
The Finance Ministry on Thursday said the growth rate in the current financial year will accelerate to 5.8 per cent, better than previous estimates, saying the green shoots of economic recovery are now visible.
Gains were led by index heavyweights with Reliance Industries contributing the most.
RBI has taken a balanced approach in the credit policy considering various developments across the globe and their near term impact.
Want to spend more this festive season on your credit card? This is what it takes...
Erstwhile RBI governors, including Raghuram Rajan never had cordial relations with the government.
Most analysts had predicted a decline in real estate fixed asset investment.
By consolidating borrowings, the total EMI burden and interest cost can be reduced.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances