SBI links savings account, short-term loan interest rates to RBI repo rate
5 years, 10 months ago

SBI links savings account, short-term loan interest rates to RBI repo rate

Live Mint  

Mumbai: State Bank of India on Friday linked its interest rate on savings account with balance above ₹1 lakh and short-term loans to Reserve Bank of India's repo rate, effective 1 May 2019. While home loan interest rates will still be determined by the marginal cost of funds-based lending rate, or MCLR, rates are expected to fall as savings deposit rates have a substantial weightage while determining MCLR. “Home loan customers will soon see better rates as we are moving a chunk of our liabilities to the external benchmark rate, affecting a pass-through of policy rate cuts,” said Gupta over the phone. RBI said banks are free to decide on the external benchmark: it could be the repo rate, 91-day treasury bill yield, 182-day treasury bill yield or any other benchmark market interest rate produced by Financial Benchmarks India Pvt.

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History of this topic

Headwinds: RBI keeps key rate unchanged, lowers growth forecast
1 month ago

Headwinds: RBI keeps key rate unchanged, lowers growth forecast

Hindustan Times  

The Reserve Bank of India left its benchmark interest rate unchanged at 6.5% in this year’s last meeting of its monetary policy committee despite a dip in economic growth, citing continued risks from inflation. RBI governor Shaktikanta Das delivering the monetary policy statement on Friday The central bank kept the repo rate steady after raising it by 250 basis points …

Changes to India’s repo rate since June 2000
1 month ago

Changes to India’s repo rate since June 2000

Live Mint  

MUMBAI - The Reserve Bank of India kept its key interest rate unchanged, as widely expected, retaining its focus on bringing inflation down even as global market volatility left other major central banks poised to ease policy. The monetary policy committee kept the key lending rate, or repo rate, unchanged at 6.50%, but cut the cash reserve ratio that banks …

RBI monetary policy: Repo rate to remain unchanged at 6.5%, says Shaktikanta Das
1 month ago

RBI monetary policy: Repo rate to remain unchanged at 6.5%, says Shaktikanta Das

Firstpost  

RBI Governor Shaktikanta Das has announced that the Monetary Policy Committee has decided to keep the repo rate, the interest rate at which RBI lends to banks, unchanged at 6.5% The new monetary policy committee of the Reserve Bank of India, led by Governor Shaktikanta Das, will announce the policy interest rate today, which currently stands at 6.5 per cent.File …

RBI keeps repo rate at 6.5% for 11th time in a row
1 month ago

RBI keeps repo rate at 6.5% for 11th time in a row

Hindustan Times  

The Monetary Policy Committee of the Reserve Bank of India has decided to keep the repo rate unchanged at 6.5%, RBI Governor Shatikanta Das announced on Friday. Further, Das notified that the central bank's projection of India's Gross Domestic Product growth for the ongoing financial year now stood at 6.6%, down from the earlier estimate of 7.2%. Das said, “Growth …

At India’s largest bank, all eyes on premium customers
2 months ago

At India’s largest bank, all eyes on premium customers

Live Mint  

Mumbai: State Bank of India may be taking the higher road as it joins the scramble for customer funds without resorting to a rate war, but its outlook signals an extended industry struggle for deposit growth. India’s largest bank on Friday tempered its guidance on deposit growth to 10-11% from 12-13% for 2024-25 as customers might have now found more …

RBI MPC October 2024: Central Bank Maintains Repo Rate, Keeping Home Loan EMIs Stable
3 months ago

RBI MPC October 2024: Central Bank Maintains Repo Rate, Keeping Home Loan EMIs Stable

ABP News  

The Reserve Bank of India has decided to maintain the repo rate at 6.5 per cent. After assessing the evolving macroeconomic and financial conditions and the outlook, the MPC decided by a majority of 5 out of 6 members to keep the policy repo rate unchanged at 6.50 per cent. Until then, EMIs will remain at current levels.” “The committee …

SBI Hikes MCLR by 10 Basis Points, Third Consecutive Increase
4 months, 3 weeks ago

SBI Hikes MCLR by 10 Basis Points, Third Consecutive Increase

Deccan Chronicle  

Mumbai: The country’s largest lender State Bank of India has raised its Marginal Cost of Funds-based Lending Rate by 10 basis points across all tenors impacting largely some old individual borrowers or companies whose loans are still linked to MCLR. According to Vipul Patel, founder, of Mortgageworld, a home loan advisory company, “While new borrowers have their loan rates linked …

SBI raises lending rate by 10 basis points across tenures from August 15: Will loan EMIs go up?
4 months, 3 weeks ago

SBI raises lending rate by 10 basis points across tenures from August 15: Will loan EMIs go up?

India TV News  

The State Bank of India, the largest state-owned bank in India, has announced an increase in its lending rates by 10 basis points across tenors, effective from August 15, 2024. Introduced in April 2016 as a replacement for the base rate system, the MCLR is used as a benchmark for setting lending rates unless specific exceptions are approved by the …

RBI keeps repo rate steady: Will there be any impact on your home loan EMIs
5 months ago

RBI keeps repo rate steady: Will there be any impact on your home loan EMIs

Hindustan Times  

The Reserve Bank of India kept repo rate steady at 6.5 percent for the ninth time in a row in its Monetary Policy Committee review. This year, HDFC Bank increased home loan rates for new borrowers by 40 basis points despite repo rates being steady. For HDFC Bank, the lowest interest rate on a ₹50-lakh home loan was 8.35 per …

RBI keeps Repo rate unchanged at 6.5% for ninth consecutive time
5 months ago

RBI keeps Repo rate unchanged at 6.5% for ninth consecutive time

Deccan Chronicle  

In a move reflecting its cautious approach amid ongoing economic uncertainties, the Reserve Bank of India has decided to keep the repo rate unchanged at 6.5 per cent. It decided by a majority of four members to keep the policy repo rate unchanged at 6.5 per cent. The central bank's commitment to bringing inflation down to its 4 per cent …

RBI keeps repo rate unchanged at 6.5%; Inflation, GDP growth forecast for FY25 retained
5 months ago

RBI keeps repo rate unchanged at 6.5%; Inflation, GDP growth forecast for FY25 retained

Hindustan Times  

The Reserve Bank of India has decided to keep the repo rate unchanged at 6.5% for the ninth time in a row, RBI Governor Shaktikanta Das announced on Thursday, August 8, 2024. "The Monetary Policy Committee decided by a 4:2 majority to keep the policy repo rate unchanged at 6.5%. The RBI governor said that food prices are likely to …

Monetary Policy: RBI keeps repo rate unchanged for 9th time in a row at 6.5 pc
5 months ago

Monetary Policy: RBI keeps repo rate unchanged for 9th time in a row at 6.5 pc

India TV News  

The Reserve Bank of India has decided to keep the repo rate unchanged at 6.5%, ensuring no immediate impact on loan EMIs. The Reserve Bank of India announced on Thursday that the Monetary Policy Committee has decided to keep the policy repo rate unchanged at 6.5%. Consequently, the standing deposit facility rate remains at 6.25%, and the marginal standing facility …

SBI Raises Lending Rates By 10 Basis Points, EMIs Set To Increase
6 months, 3 weeks ago

SBI Raises Lending Rates By 10 Basis Points, EMIs Set To Increase

ABP News  

The State Bank of India, India's largest lender, has raised its marginal cost of funds-based lending rate by 10 basis points, equivalent to 0.1 per cent, across all loan tenures. Similarly, the overnight MCLR has increased to 8.10 per cent from 8.00 per cent, while the one-month and three-month MCLR rates have increased to 8.30 per cent from 8.20 per …

RBI repo rate decision: What will be impact on home loan EMIs
9 months ago

RBI repo rate decision: What will be impact on home loan EMIs

Hindustan Times  

The Reserve Bank of India kept the repo rate steady at 6.5 percent for the seventh time in a row. This means that your home loan interest burden and equated monthly installments will remain unchanged for now. RBI repo rate decision: This means that your home loan interest burden and equated monthly installments will remain unchanged for now. Looking ahead, …

SBI in talks with RBI to lower cash reserve ratio requirement on green deposits
10 months, 3 weeks ago

SBI in talks with RBI to lower cash reserve ratio requirement on green deposits

The Hindu  

State Bank of India chairman Dinesh Khara on February 16 said the nation's largest lender is in talks with the Reserve Bank to reduce the cash reserve ratio requirement on green deposits. State Bank of India last month announced a green deposit scheme, a first in the domestic banking, to attract long-term retail deposits to be used only to fund …

RBI keeps repo rate unchanged at 6.5%, cites food-inflation risk
11 months ago

RBI keeps repo rate unchanged at 6.5%, cites food-inflation risk

Hindustan Times  

The Reserve Bank of India on Thursday kept its benchmark repo rate unchanged at 6.5% for the sixth straight time, staying focused on anchoring inflation and boosting growth. “Uncertainty in food prices continues to impinge on headline inflation,” RBI governor Shaktikanta Das said at a briefing in Mumbai. A hike makes borrowing expensive for businesses, limiting money supply and cooling …

SBI fixed deposit interest rates hiked. Check latest here
1 year ago

SBI fixed deposit interest rates hiked. Check latest here

Hindustan Times  

Recently, the State Bank of India raised interest rates on fixed deposits of less than ₹2 crore. Representational Image Also, this rate hike by SBI, the country's largest bank and a private sector lender, is applicable on all but three FD tenures: one year to less than two years, two years to less than three years, and five years to …

‘Monetary policy actively disinflationary’: RBI keeps repo rate unchanged at 6.5%
1 year, 1 month ago

‘Monetary policy actively disinflationary’: RBI keeps repo rate unchanged at 6.5%

Hindustan Times  

The Reserve Bank of India on Friday maintained its benchmark repo rate at 6.5%, keeping its focus on anchoring inflation and boosting growth. Monetary policy will remain actively “disinflationary”, RBI Governor Shaktikanta Das said after a two-day meeting of the bank’s six-member monetary policy committee. He said that the central bank’s successive policy rate hikes, a reference to increases in …

RBI may increase repo rate by 25 bps in upcoming monetary policy meeting
1 year, 9 months ago

RBI may increase repo rate by 25 bps in upcoming monetary policy meeting

India TV News  

RBI Monetary Policy Meeting: Various economists have suggested that the Reserve Bank of India's monetary policy committee may increase the repo rate by 25 basis points during the April meeting in order to combat rising inflation. The report suggests that the repo rate is already higher than the optimal requirement by around 25 bps and a repo rate of 6.5 …

SBI hikes recurring deposit rates. Check latest RD rates here
1 year, 10 months ago

SBI hikes recurring deposit rates. Check latest RD rates here

Live Mint  

The country's largest lender State Bank of India has increased interest rates on recurring deposits. SBI Recurring Deposit SBI RD interest rates vary between 6.5%-7% for the general public and an additional interest rate hike of 50 basis points for senior citizens. SBI RD rates effective 15 February 2023 1 year to less than 2 years - 6.80% 2 years …

SBI raises fixed deposit interest rates, introduces new 400 days tenure scheme
1 year, 10 months ago

SBI raises fixed deposit interest rates, introduces new 400 days tenure scheme

India TV News  

State Bank of India has raised its fixed deposit interest rates, effective from February 15, 2023. In addition, SBI has introduced a specific tenure scheme of 400 days, where it is offering a 7.10% interest rate. According to SBI's website, senior citizens can earn an additional premium of 50 basis points over and above the existing 50 bps, i.e., 100 …

SBI’s home loan interest rates change from today, benchmark lending rates up
1 year, 10 months ago

SBI’s home loan interest rates change from today, benchmark lending rates up

Live Mint  

Home loan interest rates at the State Bank of India have changed from Wednesday onward as the lender hiked lending rates of key benchmarks. Latest SBI home loan rates: Regular Home loan, Flexipay, NRI, Non-Salaried, Privilege, APON Ghar: Under the campaign offer, SBI is giving a concession of 30 bps to 40 bps to borrowers with a credit score from …

SBI Hikes Home Loans Rates. Check Revised Lending Rates For HDFC, PNB, BoB
1 year, 10 months ago

SBI Hikes Home Loans Rates. Check Revised Lending Rates For HDFC, PNB, BoB

ABP News  

India’s top lender State Bank of India has raised the marginal cost of funds-based lending rate by 10 basis points. The hike comes within a week after the Reserve Bank of India raised its repo rate by 25 bps to 6.50 per cent. SBI has raised the overnight MCLR rate by 10 bps to 7.95 per cent from 7.85 per …

PNB, Bank of Baroda raise lending rates by up to 25 bps after repo rate hike
1 year, 10 months ago

PNB, Bank of Baroda raise lending rates by up to 25 bps after repo rate hike

Live Mint  

Public sector lenders Punjab National Bank and Bank of Baroda have raised their lending rates by up to 25 basis points following the interest rate hike by Reserve Bank of India earlier this week. Punjab National Bank announced that it has effected a 25 basis point increase in the repo linked lending rate from 8.75 per cent to 9 per …

RBI repo rate hike: How will it affect fixed deposits (FDs)?
1 year, 11 months ago

RBI repo rate hike: How will it affect fixed deposits (FDs)?

Hindustan Times  

In its first monetary policy decision after the Union Budget 2023, the Reserve Bank of India has hiked the repo rate by 25 basis points. With the raising of key benchmark interest rate by 25 basis points to 6.5 per cent, there will be a direct impact on both bank depositors and new loan borrowers. Currently, top banks, such as …

How RBI’s 25 bps repo rate hike could impact your loan EMIs
1 year, 11 months ago

How RBI’s 25 bps repo rate hike could impact your loan EMIs

Live Mint  

As widely speculated, the Reserve Bank of India has hiked the repo rate for the sixth time in a row, by 25 bps to 6.50% with immediate effect. After the RBI's latest repo rate hike on February 8, banks are expected to raise interest rate in retail loans. So, it's of utmost importance for a common man to know how …

DBS Bank India Hikes FD Rates, Know Your Returns Now
1 year, 11 months ago

DBS Bank India Hikes FD Rates, Know Your Returns Now

News 18  

During the last 9 months, the Reserve Bank of India has frequently increased the repo rate to control inflation. After the change, the bank is offering interest rates ranging from 2.50 per cent to 6.50 per cent for the general public and 5.25 per cent to 7.00 per cent for senior citizens. With the increment, DBS Bank India is now …

RBI may take repo rate to 6.75% in 2023
2 years ago

RBI may take repo rate to 6.75% in 2023

Live Mint  

The Reserve Bank of India may hike the policy repo rate to 6.75% by next year due to core inflation still being elevated and the US Federal Reserve maintaining a hawkish stance with an outlook for further rate hikes. This means, there is room for at least another 50 bps hike in India's policy repo rate going forward. He added, …

SBI hikes interest rates for fixed deposits less than ₹2 crore
2 years ago

SBI hikes interest rates for fixed deposits less than ₹2 crore

Hindustan Times  

The State Bank of India, one of the country's biggest lenders, has hiked its fixed deposit rates for some maturity periods on deposits less than ₹2 crore from today. With this, the fixed deposits maturing between seven days to 45 days are offering interest rates of three per cent, while the ones having maturity period between 46 days and 179 …

RBI repo rate hike: Tips for home loan borrowers to deal with higher EMIs
2 years, 1 month ago

RBI repo rate hike: Tips for home loan borrowers to deal with higher EMIs

Firstpost  

If you took a home loan at 6.75 per cent interest a few months ago, then the same loan will be available at an interest rate of 9 per cent In order to contain inflation, the Reserve Bank of India has been hiking the repo rate since May. The latest rise in repo rate will cause higher Equated Monthly Installments …

RBI raises repo rate by 35bps to 6.25%, highest since March 2019
2 years, 1 month ago

RBI raises repo rate by 35bps to 6.25%, highest since March 2019

Hindustan Times  

Loans and mortgages will get more expensive with the Reserve Bank of India’s Monetary Policy Committee announcing a fifth consecutive interest rate hike on Wednesday, of 0.35 percentage points, taking the policy rate to 6.25%, the highest since March 2019. RBI has taken up the policy rate by 2.25 percentage points since May, and the tone and tenor of its …

RBI Restores Bond Market Timings; What Investors Should Know
2 years, 1 month ago

RBI Restores Bond Market Timings; What Investors Should Know

News 18  

Reserve Bank of India Governor Shaktikanta Das, while reading out decisions taken by the rate-setting panel on monetary policy announced that the RBI in its move towards normal liquidity operations on Wednesday decided to restore market hours – from 9.00 am to 5.00 pm – in respect of call/notice/term money, commercial paper, certificates of deposit, and repo in corporate bond …

Home Loan, Car Loan EMIs to Increase as RBI Hikes Repo Rate by 35 bps; What Should Borrowers Do
2 years, 1 month ago

Home Loan, Car Loan EMIs to Increase as RBI Hikes Repo Rate by 35 bps; What Should Borrowers Do

News 18  

RBI MPC Meeting December 2022: The Reserve Bank of India has increased the repo rate by 35 basis points to 6.25 per cent in its December Monetary Policy Committee meeting. Atul Monga, CEO and co-founder of BASIC Home Loan, said: “An increase in interest rates will be felt especially by the new borrowers, existing borrowers will not usually be affected …

Banks increase EBLRs by 190 bps in tandem with RBI's repo rate hike
2 years, 1 month ago

Banks increase EBLRs by 190 bps in tandem with RBI's repo rate hike

The Hindu  

All major banks have increased their external benchmark-based lending rates by 190 basis points in tandem with the hike in the Reserve Bank's policy repo rate since May this year, though they have been slow in raising the deposit rates. The RBI's Monetary Policy Committee, which makes recommendations to the central bank regarding interest rates, is set to meet again …

SBI raises benchmark lending rate by 0.7%
2 years, 3 months ago

SBI raises benchmark lending rate by 0.7%

The Hindu  

The country's largest lender, State Bank of India, raised the Benchmark Prime Lending Rate by 70 basis points to 13.45% on Wednesday. "Benchmark Prime Lending Rate revised as 13.45% per annum with effect from September 15, 2022," the SBI posted on its website. Now most of the banks provide loans on the External Benchmark Based Lending Rate or the Repo-Linked …

These tax saving fixed deposits promise over 8% returns to senior citizens; details here
2 years, 4 months ago

These tax saving fixed deposits promise over 8% returns to senior citizens; details here

Firstpost  

Fixed deposit schemes are one of the safest investment options for elderly people. Some banks are offering over 8 per cent returns on tax-saving fixed deposits of 5 years. But, before investing in the scheme, you must note that the tax-saver fixed deposits have a lock-in period of 5 years. Here is all you need to know about some tax-saver …

ICICI Bank, PNB, Bank of Baroda, Canara Bank Raise Loan Rates
2 years, 5 months ago

ICICI Bank, PNB, Bank of Baroda, Canara Bank Raise Loan Rates

News 18  

After the RBI’s Monetary Policy Committee in its latest policy review hiked the repo rate by 50 basis points to control inflation, ICICI Bank, PNB, Bank of Baroda, Canara Bank have raised their lending rates. Bank of Baroda said retail loans will now have an interest rate of 7.95 per cent, reflecting a spread of 2.55 per cent over the …

SBI Hikes Fixed Deposit Interest Rates for These Tenors: Check Latest SBI FD Rates Here
2 years, 5 months ago

SBI Hikes Fixed Deposit Interest Rates for These Tenors: Check Latest SBI FD Rates Here

News 18  

SBI Fixed Deposit Interest Rates Hiked: The country’s largest public sector bank, State Bank of India or SBI has hiked its fixed deposit interest rates for certain tenors. The SBI fixed deposit interest rates are applicable on domestic term deposits of Rs 2 crore and above. The bank has hiked its FD rates by 50 basis points on deposits maturing …

Bank Fixed Deposit: SBI vs PNB vs Bank of Baroda; Check FD Interest Rates at These Banks
2 years, 6 months ago

Bank Fixed Deposit: SBI vs PNB vs Bank of Baroda; Check FD Interest Rates at These Banks

News 18  

Bank Fixed Deposits: As the Reserve Bank of India continued to increase its repo rates during its June meeting of the Monetary Policy Committee, banks also followed suit and hiked their interest rates. For example, SBI fixed deposit interest rates, Bank of Baroda fixed deposit interest rates and Punjab National Bank Fixed deposit interest rates have been increased over the …

SBI Raises Minimum Home Loan Rate To 7.55%; Know Latest Lending, Deposit Rates
2 years, 6 months ago

SBI Raises Minimum Home Loan Rate To 7.55%; Know Latest Lending, Deposit Rates

News 18  

With India’s largest lender State Bank of India hiking its marginal cost of funds-based lending rate effective June 15, the minimum home loan interest rate has also been revised upwards. Here’s the latest home loan rates of SBI: The lowest interest rate on home loans that SBI is now offering to borrowers is 7.55 per cent per annum. SBI has …

SBI hikes home loan interest rate; EMIs set to go up
2 years, 6 months ago

SBI hikes home loan interest rate; EMIs set to go up

India TV News  

SBI Home Loan Interest Rate: State Bank of India, the country's largest lender, has hiked the lending rates following the Reserve Bank of India's repo rate hike last week. The central bank had hiked the repo rate by 0.50 per cent to 4.90 per cent. The public sector bank has revised by up to 0.20 per cent the marginal cost …

SBI Fixed Deposit Interest Rates Hiked for These Tenors; Check New FD Rates Here
2 years, 6 months ago

SBI Fixed Deposit Interest Rates Hiked for These Tenors; Check New FD Rates Here

News 18  

SBI Fixed Deposit Interest Rates: A week after the Reserve Bank of India increased its repo rates for the second straight time in a row, India’s largest pubic sector lender State Bank of India hiked its interest rates on fixed deposits by up to 20 basis points. For tenures of one year to less than two years, the rates have …

SBI hikes interest rates on fixed deposits: Check new rates here
2 years, 6 months ago

SBI hikes interest rates on fixed deposits: Check new rates here

Live Mint  

The interest rate on fixed deposits has been raised by the country's largest lender, State Bank of India. The new interest rates go into effect today, June 14, 2022, and as a result of the modification, the bank has raised interest rates on deposits of less than ₹2 Cr maturing in 211 days to less than 3 years. SBI will …

SBI hikes lending rate by 0.1%, EMIs to go up
2 years, 7 months ago

SBI hikes lending rate by 0.1%, EMIs to go up

The Hindu  

The country's largest lender State Bank of India has raised its marginal cost of funds based lending rate by 10 basis points or 0.1% across all tenures, a move that will lead to an increase in EMIs for borrowers. The lending rate revision by SBI is likely to be followed by other banks in the days to come. SBI's External …

RBI repo rate hike effect: These banks raised rates on lending, deposits
2 years, 8 months ago

RBI repo rate hike effect: These banks raised rates on lending, deposits

Live Mint  

Right after the Reserve Bank of India raised India's repo rate by 40 basis points, the banking sector mimicked the same by increasing interest rates in lending and deposit schemes. Here's a list of banks that have raised their interest rates on either lending benchmarks or fixed deposits or savings after RBI's repo rate hike. It said on its website, …

ICICI, Bank of Baroda, Bank of India hike interest rates on all types of loans
2 years, 8 months ago

ICICI, Bank of Baroda, Bank of India hike interest rates on all types of loans

India TV News  

Highlights RBI on Wednesday in a surprise move hiked the benchmark lending rate to 4.40% to contain inflation It marks the start of an upward cycle in borrowing costs in the last three years Commercial banks have already started increasing interest rate on all types of loans soon Private sector lender ICICI Bank has revised its external benchmark lending rate …

ICICI, BoB, BoI, Central Bank revise lending rates after RBI's repo rate increase
2 years, 8 months ago

ICICI, BoB, BoI, Central Bank revise lending rates after RBI's repo rate increase

The Hindu  

Private sector lender ICICI Bank revised its external benchmark lending rate to 8.1%, and state-owned Bank of Baroda raised the rate to 6.9% with immediate effect after the RBI raised the key repo rate. In an out-of-turn Monetary Committee Meeting, the Reserve Bank on Wednesday announced to hike the benchmark repo rate -- the short term lending rate it charges …

ICICI Bank, Bank of Baroda Hike Repo-Linked Lending Rates by 40 bps. How it Will Impact
2 years, 8 months ago

ICICI Bank, Bank of Baroda Hike Repo-Linked Lending Rates by 40 bps. How it Will Impact

News 18  

After a mid-cyclic RBI rate hike, on Thursday, ICICI Bank raises the external benchmark lending rate by 40 bps to 8.10 per cent. So, now that the RBI has increased the repo rate, lenders like ICICI, and Bank of Baroda have hiked their repo-linked interest rates against home loans, car loans, and others. Hence, the 40 bps repo rate hike …

Impact of RBI's repo rate hike on borrowers, investors and the economy
2 years, 8 months ago

Impact of RBI's repo rate hike on borrowers, investors and the economy

Business Standard  

In an unscheduled press briefing yesterday, RBI Governor Shaktikanta Das has said that the Monetary Policy Committee’s off-cycle meet had unanimously voted to hike rates.The rationale behind this decision was the upside risks posed by global factors to India’s inflation trajectory. Meanwhile, the marginal standing facility rate and the Bank Rate stand adjusted to 4.65 per cent.However, the Monetary Policy …

EMIs to rise as RBI hikes repo rate by 40 basis points
2 years, 8 months ago

EMIs to rise as RBI hikes repo rate by 40 basis points

The Hindu  

Home-, auto- and other loan EMIs are likely to increase after the Reserve Bank of India hiked its key interest rate by 40 bps in a surprise move on May 4 in an effort to tame inflation that has remained stubbornly above target in recent months. The increase in repo rate — the rate at which RBI lends to commercial …

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