BoI, Union Bank follow, earnings to be impacted.
A day ahead of Lok Sabha polls announcement, the government today decided to hike interest rates on fixed deposit schemes offered by post offices by up to 0.2 per cent.
With RBI's repo rate cut and strong macroeconomic fundamentals like benign inflation, strong forex reserves and stable rupee, GDP growth is expected to be higher and interest rates are poised to touch new lows, PNB Gilts has said.
Borrowers haven't heard the last of interest rate hikes, as more banks are preparing to raise lending rates in the days ahead to offset increase in their cost of funds.
India and South Africa will face off in their opening Super Eight match of the T20 World Cup. The match will test India's batting line-up against South Africa's formidable bowling attack.
The government should lower the interest rates in the long term to increase supply as a move to check inflation, which touched a three year high of 7 per cent last week, Bharti Group chairman and managing director Sunil Bharti Mittal said.
While EPF rewards patience and compounds your money, inflation decides how far your money really goes.
The Reserve Bank on Friday eased money supply further by cutting key policy rates and ratios - decisions that would among other things infuse Rs 20,000 crore (Rs 200 billion) into the banking system.
Meanwhile, ICICI Bank chairman KV Kamath, however, said he expects interest rates to go up only towards of the end of this year.
Repo rate may well end 2013 at 8 per cent, where it had begun the year.
'There is a fortune in stolen money, counterfeit notes floating around, and political skullduggery afoot, along with treachery, double dealing, kidnapping and all manner of wickedness packing the series so densely that the pace never flags and a profusion of twists keeps the story engaging even when it strains credibility,' notes Deepa Gahlot.
The Reserve Bank is likely to hike interest rates marginally in the fourth quarter of this fiscal to give a signal to the market, a top financial sector expert said.
'Where in the world you get 12.5 per cent return of interest?'
The Reserve Bank of India (RBI) kept its key policy repo rate unchanged at 8.0 percent on Tuesday, as widely expected, while expressing concerns about risks to its target to bring consumer inflation down to 6 percent by January 2016.
India are looking to create history, as they aim to become the first team to successfully defend the T20 World Cup, while England will be aiming to reclaim the title they last won four years ago.
Foreign portfolio investors sold stocks worth Rs 1.42 trillion in 2025, with their sales hitting Rs 12,257 crore in the first four trading days of September.
Bank of Baroda's subsidiary Bobcards Ltd will slash the interest rate on its credit cards to lowest ever level of 1.49 per cent per month, a move that will trigger off another rate cut war among banks and card issuers.
In a move that will hit the common man, the government on Friday slashed interest rates payable on small savings including PPF and Kisan Vikas Patra (KVP) in a bid to align them closer to market rates.
Finance Ministry and Reserve Bank of India on Thursday sought to play down their differences in perception on interest rates.
The last scene in Hamnet will be seared in movie memory, notes Deepa Gahlot.
LIC Housing Finance on Thursday slashed interest rates for new housing loan customers, intensifying the war for cornering a major pie of the now reviving home loan market.
At the heart of this debate is Section 3(d) of the Patents Act, a safeguard designed to prevent drugmakers from extending monopoly protection through trivial modifications to existing medicines.
Deposit rates stood at 8-9.50 per cent, compared to 6.25-8 per cent as on August 18, 2006, the report for the month of August stated.
Institute of Economic Growth on Friday said domestic interest rates are set to rise in the short term due to surging inflation and hike in international rates.
Initially, these futures contracts would be based on 10-year government bond yield, which should be settled by physical delivery. Recently, an RBI-appointed technical panel recommended introduction of futures contracts, suggesting that as market evolves, exchanges may consider introducing contracts on various other government securities and had sought public comments.
Millions of small savers and PPF account holders will earn less on their post office savings schemes, with the government deciding to reduce interest rates on them marginally by 0.10 per cent.
"Any payment above EMIs is considered as payments towards the principal and would result in shorter tenure. This, in turn, will lower the total interest amount you pay on your home loan."
Many fear that in practice if banks make their customers pay to hold their money, it might lead to a situation where consumers hold on to cash.
Bankers, who spoke to PTI, point to the above indicators and aver the Reserve Bank of India is unlikely to hike reverse repo and repo rates this month.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
He feels that RBI could be waiting for a period or an opportune movement when there could be sustained reduction.
Expressing dissatisfaction over the RBI decision to keep interest rates unchanged, India Inc today said rate cuts were needed to make the industry invest more and drive economic growth.
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
The government on Tuesday said it is not in favour of regulating interest rates charged by micro-finance institutions but emphasised that there should be transparency in amount they charge from the borrowers.
Banks see interest rates staying at the current elevated levels for now.
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