Zee Media Bureau
New Delhi: RBI Governor Raghuram Rajan on Friday surprised the industry and shocked the stock markets by hiking the short-term policy rate by 0.25 percent to keep "worrisome" inflation under check, a move that may increase EMIs for home and auto loans in the medium term.
Zee Business is carrying the live coverage of State Bank of India (SBI) chairman Pratip Chaudhuri’s reaction on RBI policy review.
Stay tuned for more.
14: 08: Tapering of US stimulus does however impact our foreign offices business.
14.07: QE tapering does not impact regular business of domestic banks.
14.01: Volatility in rupee is due to the difference between demand and supply.
13.58: Interest rate on loans is co-related to deposit rate. Repo rate has got nothing much to do with the loan interest rate. Bank's base rate or the minimum lending rate is not a function of policy rate. It is a function of bank's liquidity position and ability to meet the deposit and lending situation.
13.55: Chaudhuri says slashing of Marginal Facility Lending (MSF) by 0.75 percent is a welcome step.
13.50: SBI Chairman says RBI steps are not very surprising.
First Published: Friday, September 20, 2013, 13:34