Bplr

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RBI push to link loans to repo rate will not bring cheers to home-loan borrowers; banks have again found a way not to fall in line
Business

RBI push to link loans to repo rate will not bring cheers to home-loan borrowers; banks have again found a way not to fall in line

If there was an expectation that the new repo-rate linked loan rate-setting mechanism will lower the EMI burden on borrowers, it has been proved wrong.

Teaser loans a rude shock for many homebuyers when interest rates shoot up; RBI right to decline SBI’s idea from Day One
Business

Teaser loans a rude shock for many homebuyers when interest rates shoot up; RBI right to decline SBI’s idea from Day One

Back in 2010, SBI had introduced teaser loans but rolled back after just a year following disapproval from the RBI.

RBI proposes floating interest rates on home, auto, MSE loans to be linked to new benchmarks from 1 April
Business

RBI proposes floating interest rates on home, auto, MSE loans to be linked to new benchmarks from 1 April

In a bid to ensure greater transparency, the RBI on Wednesday proposed that floating interest rates on personal, home, auto and micro and small enterprises (MSEs) loans will linked to external benchmarks like repo rate or treasury yields, from 1 April next year.

RBI wants new system to set lending rate but will it stop greedy banks from cheating customers?
Business

RBI wants new system to set lending rate but will it stop greedy banks from cheating customers?

It is not about the lending rate setting mechanism but about compliance by banks. They have always freely flouted rules under PLR, BPLR, MCLR and base rate systems

New base rate regime is a firm message from Rajan to banks: No more tricks on common man
Business

New base rate regime is a firm message from Rajan to banks: No more tricks on common man

Rajan has had a tough time convincing banks to cut their lending rates taking the central bank’s rate signals

 HDFC Bank cuts lending rates by 0.1% effective 30 March
Business

HDFC Bank cuts lending rates by 0.1% effective 30 March

HDFC Bank has become the first bank to cut lending rate after the RBI cut the short-term lending rate by 0.25 percent on 19 March.