The Reserve Bank on Wednesday increased the benchmark lending rate by 40 basis points (bps) to 4.40 per cent in a bid to contain inflation, which has remained stubbornly above the target zone of 6 per cent for the last three months. The decision follows an unscheduled meeting of the Monetary Policy Committee (MPC), with all six members unanimously voting for a rate hike while maintaining the accommodative stance. While the inflation has remained above the targetted 6 per cent since January, RBI Governor Shaktikanta Das said the inflation print in April is also likely to be high.
Raat Akeli Hai 2 is watchable, but considering the strength of its predecessor, it could have been more engaging, with a greater sense of urgency and a sharper, cleverer story, notes Mayur Sanap.
State Bank of India and Canara Bank said on Thursday interest rates are expected to remain soft and stable in the near future as inflation is down and there is ample liquidity with the banks. "Interest rates are expected to remain stable to down," SBI Chairman O P Bhatt told reporters before participating in a meeting of bankers and exporters with Finance Minister P Chidambaram in New Delhi.
Kolkata Knight Riders made history at the IPL 2026 mini auction in Abu Dhabi on Tuesday by securing Bangladesh pace ace Mustafizur Rahman for Rs 9.20 crore
Interest rates in the economy have peaked, but it is difficult to predict whether they would fall just as property prices have in some parts of the country, a senior official of housing lender HDFC said.
Following the footsteps of other banks, Lord Krishna Bank has hiked interest rates on domestic deposits by 25 to 50 basis points.
Gold and silver prices are poised to maintain their record-setting rally in the coming week as investors focus on global inflation data and key macroeconomic indicators that shape central bank policy paths, analysts said.
The government has asked manufacturers to revise the maximum retail price (MRP) on unsold stocks in line with the change in GST rates. The government has reduced GST on various products and services, which will come into effect from September 22.
Stock markets will be driven by RBI's interest rate decision, tariff-related developments, global trends and trading activity of foreign investors in this holiday-shortened week, analysts said.
State Bank of India announced on Friday a hike in interest rates on fixed deposits by 0.25 to 0.50 per cent with effect from Saturday.
Sreenivasan could so willingly be 'our little man' because in his heart of hearts he never felt trivial or inconsequential. And to the very end he stayed that way, the shrimp who knew he was a giant. Sreehari Nair doffs his hat to the late legend.
Traders rejoice when the Fed drops the rate, but...
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Sunil Bharti Mittal-led conglomerate Bharti Enterprises and private equity firm Warburg Pincus will collectively acquire a 49 per cent stake in Haier Appliances India, the local unit of China's Shandong-based Haier group, for an undisclosed amount. The transaction, according to industry sources, values the company at about 15,000 crore.
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Else, more capital outflow and pressure on rupee likely.
Loan against fixed deposit is cheaper and comes with fewer charges.
The Reserve Bank of India on Wednesday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance against the backdrop of concerns over the emergence of the new coronavirus variant Omicron.
Among Sensex firms, Tata Steel, Eternal, UltraTech Cement, Larsen & Toubro, Maruti and Bharti Airtel were the major gainers. However, Hindustan Unilever, Sun Pharma, ITC and Asian Paints were among the laggards.
The International Monetary Fund, in its report on the Indian economy, said the Insolvency and Bankruptcy Code (IBC) Amendment Bill addresses many deficiencies but it has not provided for the participation of operational creditors or rules for executory contracts. The IMF staff report said that the business dynamism in India remains relatively low, marked by low rates of entry and exit, and a high share of inactive or inefficient firms reflecting structural rigidities and high compliance levels.
Ahead of RBI policy meet, India Ratings said an interest rate hike of 0.50 per cent in the remaining part of the fiscal will throw the BSE 500 companies into a quandary.
The finance ministry and the Reserve Bank of India will work together to ensure price stability and benign interest rates in the economy, Finance Minister P Chidambaram said on Saturday.
While the RBI deregulated interest rates on fixed deposit schemes in 1997, it continues to fix the rate on savings deposits.
Given the macro setting, the outlook remains positive for each of the four key parameters - inflation, current account deficit, fiscal deficit and currency stability, says Rahul Bhushkute.
'It takes time and the experience of a few market cycles to develop awareness about one's true risk appetite.'
The Indian banking sector could be due for a rise in profitability after several quarters of net interest margin (NIM) compression. The Q2FY26 results suggest NIMs have bottomed out.
The controversial decision to select Shubman Gill in place of a well-settled Sanju Samson as the opener has backfired for the Indian team so far.
An interest rate cut, at a time when demand was not showing any sign of revival, would boost sentiments, especially for interest-rate sensitives like the car and real estate sectors, which had been showing negative growth, a majority of the 15 CEOs polled by Business Standard said.
Two days after Russian President Vladimir Putin concluded his visit to India, during which he assured that Moscow would remain a reliable energy supplier, the Kremlin on Monday said that India, as a sovereign nation, is free to buy oil from sources it deems beneficial. It expressed confidence that New Delhi will continue to prioritise its economic interests.
Reserve Bank of India governor D Subbarao said the rapid expansion of the government borrowing programme was coming in the way of the central bank's monetary policy objective of a lower interest rate regime and called for more independence for the central bank.
While inflation dropped to 0.44 per cent for the week ended March 7, the BPLR of the top five Indian banks was in the range of 12.25-16.75 per cent. In the corresponding period last year, inflation was estimated at 7.78 per cent, while lending rates were in the range of 12.25-12.75 per cent. Real interest rate is the difference between WPI-based inflation and the prevailing benchmark prime lending rate.
Bankers on Tuesday said interest rates have bottomed out in the second quarter and rates may start rising in the coming months in line with a pick-up in credit off take, expected on the back of a revival in the economy.
The minister said she has already taken up the matter with the Finance Ministry.
Pointing out that inflation rate is a little beyond comfort zone, the Prime Minister's Economic Advisory Council said the current situation is not favourable for a cut in interest rates. The inflation rate stood at 5.11 per cent for the week ended March 1. For the second week in a row that the rate was over 5%. The RBI aims to limit average rate of inflation for the current fiscal at 5 per cent. When the inflation rate is rising, it is always critical to bring down the rates.
The Union finance ministry on Thursday said the falling inflation rate would result in further lowering of interest rates. "The trend is clear for falling inflation and this will translate into lower interest rates," Economic Affairs Secretary in the Finance Ministry Ashok Chawla said while commenting on the inflation data.
The bank said that it has retained interest rate on savings bank deposit at 3 per cent for customers with balances above Rs 100,000. Customers with SB balance up to Rs 100,000 will continue to get the rate of interest at 3.50 per cent despite cut in the repo rate by the RBI earlier this month.
Pace bowling all-rounders always come at a premium and therefore, the troika of Green, Venkatesh Iyer and West Indies' Jason Holder, all coming at the highest base price of Rs 2 crore (US$220,000), are set to headline the bidding war.
Private banks may lower deposit rates. The Reserve Bank of India on Friday prodded banks to reduce interest rates after the monetary policy measures announced by it over the last five months have failed to result in lower cost of funds for the economy.
Will the government now push to move away from what Mr Rajan has been doing in the last few years?
Banks have not cut rates yet as March is typically a busy season.
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