Kotak Mahindra Bank cuts interest rates for savings accounts to 3.50%, effective from today; applicable on balance up to Rs 1 lakh
The change in interest rates at Kotak Mahindra Bank comes after the Reserve Bank of India on Friday reduced the repo rate by 40 basis points to 4 percent from 4.4 percent earlier.
The RBI governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period.
Coronavirus Outbreak: Despite personal loss, Assam hospital cleaner stays put in quarantine; doctors, nurses spend time reading, watching shows
Quarantine is definitely more screentime albeit on the consumers' end. Be it the mobile phone or the television, perhaps both are the best tools to be exploited to the core when in quarantine.
Expert hail RBI's liquidity-boosting measures for NBFCs, easing of bad-loan rules; say reverse repo rate cut shall push banks to open up credit flow
The RBI has further given a stimulus to the economy by announcing the second tranche of liquidity with a 25 basis point reverse repo cut taking it to 3.75 percent from 4 percent earlie
Coronavirus Outbreak updates: COVID-19 count in Delhi reaches 1,893; No decision yet on starting domestic, international flights, says Hardeep Singh Puri
Coronavirus Outbreak updates:Civil Aviation Minister Hardeep Singh Puri on Saturday said airlines are advised to open bookings only after the government takes a decision on starting domestic and international commercial passenger flight services.'The Ministry of Civil Aviation clarifies that so far no decision has been taken to open domestic or international operations,' he wrote on Twitter.
Coronavirus Outbreak LIVE Updates: With 118 new COVID-19 cases today, tally in Maharashtra crosses 3,000-mark; toll rises to 194
Coronavirus Outbreak LIVE Updates: The Union health ministry said that about 63,000 personal protective equipment (PPE) kits which arrived from China recently did not fulfill the criteria.
RBI measures to boost liquidity, incentivise banks to lend more to revive economy: Nirmala Sitharaman
In order to increase credit to farmers, MSMEs and housing sector, RBI announced a special refinance facility totalling Rs 50,000 crore for NABARD, SIDBI and the National Housing Bank, she said.
RBI Governor Press Conference: Shaktikanta Das announces relief measures for liquidity in system, to ease financial stress
Stating that the RBI is monitoring the situation developing out of Covid-19 outbreak, he noted that the contraction in exports in March at 34.6 percent was much more severe than global financial crisis of 2008-09.
Realtors say RBI decision to cut key rates, give 3-month moratorium to boost liquidity, ease debt pressure
The RBI cut repo rate to 4.4 per cent and reduced the cash reserve ratio maintained by the bank by 100 basis points. The reverse repo rate was cut by 90 bps to 4 per cent.
Lending from CRR buffer to get 5-year exemption; special window to enable improved credit flow to needy sectors: RBI
The window opens on 14 February for six months ending 31 July 2020, but the net demand and time liabilities (NDTL) will be calculated as of 31 January 2020, the RBI circular said.
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.
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
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.
If you think RBI’s 35 bps surprise rate cut is big bonanza for common man, the joke is on you; here’s why
The banks have room for further reduction of at least 80 bps in their lending rates if these entities choose to pass on the full benefit of the RBI rate cuts to the end-borrower.
The next RBI policy meeting too could be benign. The progress of the monsoon and a clearer picture on oil will be the clues for both inflation and policy.
The repo rate, at which the central bank lends short-term money to other banks, will continue to stay at 6 percent.
Urjit Patel said there is sizable scope for the investment to GDP ratio to improve and pointed out to increasing capacity utilisation levels
RBI slashes rate to 6%, lowest since Nov 2010: Do we expect more cuts? Will it boost realty? Experts decode
Four members of the monetary policy committee voted to cut rates by 25 bps, while one voted for a 50 bps cut and one voted for leaving rates unchanged.
Inflation projections and Real GVA growth for FY18 have been lowered based on recent data releases