RBI cuts repo rate by 40 bps: It is unexpected like rain in summer; regulatory, monetary measures to boost economy, say experts
The Reserve Bank of India (RBI) on Friday slashed the benchmark lending rate by 40 basis points to mitigate the impact of COVID-19 crisis.
SBI cuts MCLR for ninth time in a row, home loans to become cheaper; cuts interest rate on fixed deposits too
SBI further said in view of surplus liquidity in the system, it has realigned its interest rate on retail term deposits and bulk term deposits, effective 10 February.
SBI cuts savings bank account interest rate by 25 bps to 3.25%, slashes fixed deposits rates by up to 30 bps
In view of the adequate liquidity in the system, the State Bank Group on Wednesday revised interest rate on savings bank deposits (with balances up to Rs 1 lakh) from 3.50 percent to 3.25 percent effective 1 November
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.
Schemes that will fetch lower interest are Kisan Vikas Patra (KVP), Public Providend Fund (PPF), among others
Govt hikes interest rate on NSC, PPF, other small savings schemes by up to 0.4% for October-December quarter
Public Provident Fund (PPF) and National Savings Certificate (NSC) will fetch an annual interest rate of 8 percent as compared to existing 7.6 percent, while Kisan Vikas Patra (KVP) will yield 7.7 percent and mature in 112 months as against 118 months in the previous quarter.
Kisan Vikas Patra (KVP) investments will yield 7.5 percent and mature in 115 months