Lending Rates

Indian Bank cuts various lending rates from 1 April; PSU lender reduces 1-year MCLR by 15 bps to 8.10%

Indian Bank on Monday announced a cut its lending rates following a 0.75 percentage point reduction in the repo rate by the Reserve Bank last week

PFC, REC merger hits roadblock as amalgamation to violate RBI norms on debt exposure of state-owned shadow banking firm

In March 2019, PFC had completed acquisition of a majority stake in REC by transferring Rs 14,500 crore to the government with hope of merger of the two firms in 2019-20.

SBI lowers MCLR-based lending rates by 10 bps across all one-year products; eighth consecutive interest reduction this fiscal

The new one-year MCLR has been cut to 7.90 percent from 8 percent.

RBI Monetary Policy 2019 Updates: Forensic audit on PMC Bank scam expected by month-end, says Shaktikanta Das

If the Reserve Bank of India (RBI) cuts the repo rate today, it would be the sixth reduction in the short-term lending rate this financial year.

Festive season buys, launch of new models help passenger vehicle sales snap 11-month slide in October: SIAM

Sales of commercial vehicles were down 23.31 percent at 66,773 units in October, SIAM said.

Half dozen public sector banks cut lending rates by up to 25 bps; home, auto loans to become cheaper

About half a dozen public sector banks, including Bank of India, Oriental Bank of Commerce and Bank of Maharashtra, have reduced lending rates by up to 25 basis points following a cut in the key policy repo rate by the RBI last month

RBI Monetary Policy Updates: Efforts on to ensure another large NBFC does not default, says governor Shaktikanta Das

RBI MPC LATEST Updates: RBI governor Shaktikanta Das has said that efforts are on to ensure that another large non-banking finance company (NBFC) does not default.

RBI cuts repo rate by 25 bps to 5.15%: Central bank goes with the tide but reduction in interest rate cannot ensure pick-up in credit

The most important takeaway from the RBI policy statement is the revision in GDP growth number from 6.9% to 6.1% for FY20

SBI mulls to approach RBI for clarification on lender’s plan to offer fixed-floating rate home loans

At present, SBI has a floating rate home loan product linked to its marginal cost of funds-based lending rate and it recently withdrew one linked to the repo rate.

Does automobile sector need more sops, weak demand makes market tough for cement firms; all this and more on Moneycontrol Pro

The Indian automobile industry is down in the dumps, the likes of which it has not seen in two decades.