State-owned Bank of Baroda (BoB) on Sunday said it has cut its benchmark lending rate linked to repo rate by 50 basis points in line with the RBI's rate reduction. Meanwhile, private sector HDFC Bank reduced its Marginal Cost of Funds-based Lending Rates (MCLR) by 10 basis points across tenure, which will benefit borrowers whose loans are linked to this benchmark.
The bank raised the interest rates on Non Resident External rupee deposits of one year to less than 2 years to 3.08 per cent from 2.49 per cent, two years to less than three years to 3.18 per cent from 2.5 per cent and three to five years to 3.45 per cent from 2.81 per cent. Similar hikes have been made in Foreign Currency Non Resident deposits held in dollars, pound sterling, Euro, Australian dollar, Canadian Dollar and Yen.
For NRE (Rupee) deposits for a duration of one year to less than two years, the rate has been increased to 4.92 per cent from the earlier 4.17 per cent, a press release issued here said. For two years to less than three years and three years to five years, the rate has been increased to 4.41 per cent from 3.66 per cent and 4.89 per cent from the earlier 4.14 per cent, respectively, the release said.
Their assets under management (AUM) rose from Rs 1.04 trillion (January 31, 2025) to Rs 1.75 trillion (January 31, 2026), an increase of 68.3 per cent.
Consequently, the reverse repo rate under the LAF will remain unchanged at 7.5 per cent and the marginal standing facility (MSF) rate at 9.5 per cent.
"As long as the global window is open, growth will happen and interest rates will remain stable," ICICI Bank CEO K V Kamath said on Monday.\n\n
Finance Minister Jaswant Singh said on Tuesday that his ministry was considering offering senior citizens interest rates that are higher than market rates.
In February, the BBC reported that Manchester Super Giants, MI London, Southern Brave, and Sunrisers Leeds would not consider signing Pakistani players for the United Kingdom-based competition amid tensions between neighbours India and Pakistan.
Part of a focus on retail advances, as corporate demand remains subdued; could reverse if RBI raises repo next month
World manufacturing expansion slowed to 5.2 per cent in the second quarter of 2011 year-on-year from 7.5 per cent in the first quarter.
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
The Reserve Bank of India (RBI) unexpectedly kept the country's policy interest rate on hold on Wednesday, despite calling current inflation too high, citing the prospect of easing retail prices and its concerns about the weak domestic economy.
The 'rescue' operation occurred within kilometres of Iran's underground tunnel complex at Isfahan, assessed by the IAEA and US intelligence as holding a substantial portion of the country's 60 per cent enriched uranium stockpile. Retired senior US military officers have highlighted that the mission's footprint -- hundreds of special operators, multiple heavy-lift aircraft deep inside Iran -- appears outsized for recovering a single airman. Prem Panicker continues his must read blog on the Iran War.
State Bank of India has hiked the interest rates offered on non-resident Indian deposits with effect from Friday.
For high networth individuals, IRFs could be a good hedge against loans or existing fixed deposits.
If you are willing to spare four hours of your day on a spy action thriller, Dhurandhar The Revenge will surprise, shock and overwhelm you with its nervous energy, notes Divya Nair.
The Central Board of Trustees of Employees Provident Fund is likely to defer a decision on interest rate to be given to its more that 4 crore (40 million) employees this fiscal.
A neutral monetary policy stance, heavy government borrowing, and issuers adjusting to a higher-for-longer yield environment have set the stage for a largely stable corporate bond market in 2026.
Bankers have requested RBI to keep interest rates stable this fiscal, in lieu of sufficient liquidity in the system.
While EPF rewards patience and compounds your money, inflation decides how far your money really goes.
Reserve Bank will hold its first bi-monthly monetary policy review for 2016-17 on Tuesday.
There is record underperformance and under-ownership. Some of this is cyclical and will turn on its own. However, we also need to regain our growth credentials. For this, both the government and companies have a role to play, as do investors, points out Akash Prakash.
Attractive investment options available in the current market for retail investors.
RBI retained the GDP growth for the financial year 2018-19 at 7.4 per cent.
The apex bank in its monetary policy for 2010-11 hiked the repo and the reverse repo to 5.25 per cent and 3.75 per cent, respectively, and the CRR to 6 per cent.
The Bank of Japan on Friday hiked interest rates from virtually zero (0.069 per cent) to 0.25 per cent.
Punjab National Bank on Monday reduced the interest rates on housing loans. Under the floating option, 8% interest will be charged on loans repayable in 5 years, 8.75% for 5-10 years, 9.25% for 10-20 years and 9.75% for 20-25 years.
BSE Realty, Capital Goods and Consumer Durables indices were down by 3% each.
In his book, former governor Subbarao says Chidambaram, Pranab were piqued by his tight rate policy.
Canara Bank has reduced the floating and fixed home loan interest rates, as also rates of auto loans and other personal loan products, with effect from Wednesday.
Real estate developers and home buyers will feel the pinch of higher interest rates, which could slow down home sales. Higher interest will push up monthly installments for home loans for existing as well as new home buyers.
While freeing interest rates on savings bank accounts, the RBI has said that banks will have to offer a uniform interest rate on deposits of up to Rs 100,000.
The government on Wednesday said interest rates on post office savings schemes, except the PPF, will remain fixed throughout the term of the scheme.
To boost the economy, the RBI has taken a slew of measures since September last year, including cuts in the cash reserve ratio and short-term lending (repo) rate, to inject funds into the system and signalled a soft interest rate regime. PSU bankers' meeting is being held in the backdrop of the third quarterly review of monetary policy by the Reserve Bank of India.
India plans to launch trading of government bond futures within the next two months as part of efforts to deepen its financial markets, according to several sources involved in the discussions with the central bank.
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.
Amid declining growth and moderating inflation, the Reserve Bank of India is likely to pause hike in interest rate at the mid-quarterly review of the Monetary Policy on Friday.
