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Now, HDFC too matches SBI, ICICI's rates, lowers to 8.35%

Now, HDFC too matches SBI, ICICI's rates, lowers to 8.35%

Pureplay mortage player HDFC on Monday followed suit of its rivals and lowered new low-cost home loan prices by 15 bps to 8.35 percent for women borrowers and by 10 bps for men, thereby matching the rates offered by SBI last week and ICICI Bank earlier in the day.

SBI cuts base rate by 15 bps, with effect from April 1

SBI cuts base rate by 15 bps, with effect from April 1

Bringing cheer to customers who have raised loans prior to April 1, 2016, the largest public lender State Bank of India (SBI) cut its base rate by 15 basis points (bps) to 9.10 per cent with effect from April 1, 2017.

Bank of England hikes UK growth forecast; holds rate

Bank of England hikes UK growth forecast; holds rate

The Bank of England on Thursday ramped up its UK economic growth forecasts for the next three years, despite Brexit storm clouds on the horizon.

Bank of Baroda joins rate cut bandwagon, slashes lending rates by up to 0.75%

Bank of Baroda joins rate cut bandwagon, slashes lending rates by up to 0.75%

Joining the rate cut bandwagon, Bank of Baroda on Thursday lowered its lending rates by up to 0.75 percent -- which will lead to cheaper home and corporate loans.

 

HDFC Bank joins rate cut bandwagon, cuts lending rates by up to 0.9%

HDFC Bank joins rate cut bandwagon, cuts lending rates by up to 0.9%

Joining the rate cut bandwagon, HDFC Bank, Wednesday lowered its lending rates by up to 0.9 percent -- which will lead to cheaper home and corporate loans.

 

November WPI declines to 3.15% as food prices soften

November WPI declines to 3.15% as food prices soften

The annual rate of inflation, based on monthly WPI, stood at 3.15 percent (provisional) for the month of November, 2016 (over November, 2015) as compared to 3.39 percent (provisional) for the previous month and -2.04 percent during the corresponding month of the previous year. 

Monetary Policy Committee meeting starts Tuesday; may propose rate cut of 0.25%

Monetary Policy Committee meeting starts Tuesday; may propose rate cut of 0.25%

The meeting on Tuesday will be the second of the MPC chaired by the Reserve Bank of India Governor Urjit Patel.

Demonetisaion impact: Banks may not cut rate as RBI tightens liquidity through CRR

Demonetisaion impact: Banks may not cut rate as RBI tightens liquidity through CRR

Faced with a spurt in deposits following demonetisation, banks are unlikely to lower interest rates as the Reserve Bank soaked up additional liquidity in one stroke by imposing 100 percent incremental cash reserve ratio (CRR).

Punjab National Bank slashes deposit rates by upto 0.25%

Punjab National Bank slashes deposit rates by upto 0.25%

Flush with funds, Punjab National Bank (PNB) on Saturday trimmed interest rate on fixed deposits by up to 0.25 per cent in line with competition.

Retail, WPI inflation cools; raises hope of RBI rate cut

Retail, WPI inflation cools; raises hope of RBI rate cut

Softening food prices helped ease retail as well as wholesale inflation in October, raising hopes that RBI may go in for another rate cut in its monetary policy review next month.

WPI inflation eases to 3.39% in October as food prices soften

WPI inflation eases to 3.39% in October as food prices soften

In the second consecutive month of decline, wholesale inflation eased to 3.39 percent in October as food articles, led by vegetables, witnessed softening of prices. The wholesale price-based inflation, reflecting the annual rate of price rise, in September stood at 3.57 percent. In October 2015, WPI inflation was (-)3.70 percent.

RBI likely to cut policy rates in February, April, not in December: BofA-ML

RBI likely to cut policy rates in February, April, not in December: BofA-ML

The Reserve Bank is expected to maintain a status quo in the upcoming December meet and will go for a 25 bps rate cut each in its February and April policy review meeting, says a Bank of America Merrill Lynch report.

BoB cuts MCLR rate by 10 bps across tenors

BoB cuts MCLR rate by 10 bps across tenors

State-owned Bank of Baroda on Saturday reduced the marginal cost of fund (MCLR) based interest rates by 0.10 percentage point across different tenors with effect from November 7.

HDFC, ICICI Bank cut home loan rate by 0.15%; other lenders may follow

HDFC, ICICI Bank cut home loan rate by 0.15%; other lenders may follow

Setting up a tempo for other lenders to follow, HDFC and private sector lender ICICI Bank on Thursday cut home loan rate by 0.15 percent.

Indian economy well-prepared for any risk in case of US Fed rate hike: Report

Indian economy well-prepared for any risk in case of US Fed rate hike: Report

According to the global financial services major, expectations that the US Fed might normalise rates in December have been rising and the resultant risks of a stronger dollar accompanied by a rise in rates are under watch.

NPA not an issue, rate cuts to fetch Rs 2.5 trillion gains: K V Kamath

NPA not an issue, rate cuts to fetch Rs 2.5 trillion gains: K V Kamath

Seeking to allay fears arising from dud loans pile-up, veteran banker K V Kamath said interest rate cuts will give troubled lenders Rs 2.5 trillion boost through treasury gains that will help the system tide over troubles and also ease pressure on growth capital.

SBI says 'consistently' passed on RBI's rate cut to borrowers

SBI says 'consistently' passed on RBI's rate cut to borrowers

Country's largest lender SBI on Monday said it has consistently passed on RBI's rate cuts to borrowers and would further reduce the lending rate in the near term, benefiting auto and home loan seekers.

'RBI policy, macroeconomic data key for markets this week'

'RBI policy, macroeconomic data key for markets this week'

Outcome of the RBI policy meeting on Tuesday and macroeconomic data would set the trading sentiment in the stock market this week, say experts.

Global stocks downbeat amid worries over Fed rates

World stock markets largely retreated Wednesday amid concerns that the Federal Reserve could push up interest rates in the coming months despite weak global growth.

BofA-ML expects Raghuram Rajan to cut rates by 25 bps on Tuesday

BofA-ML expects Raghuram Rajan to cut rates by 25 bps on Tuesday

Taking a contrary stand, foreign brokerage BofA-ML on Monday said outgoing Governor Raghuram Rajan is likely to cut rates by 0.25 per cent in his final monetary policy review tomorrow on expectations of a cool-down in inflation.