Set with market expectations, the Reserve Bank of India (RBI) on Tuesday cut off short term repo rate by 0.25 to 7.75 % in its quarterly monetary review, raising hopes that Indian economy is appearing on right track. Read more
Tag: cut rates
SBI revises retail lending rates
Good news for home loaners, India’s top lender State Bank of India recently announced to relief in retail rates with cut by up to 50 basis points, 0.25-0.60 %.
As per SBI revised plan, Car loans above Rs. 75 lakh will be charged 10.40% interest rates from existing 11.25%, while Home Loans of Rs. 30 lakh- Rs. 75 lakh will be charged to 10.40%, from 10.75%.
People who lend money upto Rs. 30 lakh will now pay interest with 10.25% from current 10.50%. Read more
RBI unlikely to cut rates on inflation risk
Amid confliction whether to hold the higher interest rates or cut them to decline inflationary crisis, the Reserve Bank Of India is under much pressure. On Monday, it said that the decision has come after reviewing the quarterly monetary policy on Tuesday, may be balanced the status quo on interest rates.
It expected that RBI will keep its rates unchanged, a much disappointment today for Industry honchos and bankers. Read more
