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RBI slashes repo rate for the third consecutive time

The six-member RBI Monetary Policy Committee (MPC) decided to slash the current repo rate of 6 per cent to 5.75 per cent effective immediately. The committee which...

Indian Overseas Bank slashes its one-year lending rate by 5 bps

Following the Reserve Bank of India’s decision to reduce the repo rate by 25 bps to 6% in order to boost the growth of...

Bank of Maharashtra reduces its lending rates

Following the Central Bank of India’s decision to reduce the repo rate by 25 basis points to 6% from 6.25% to boost growth, State...

SBI slashes home loan interest rates for loan amounts below Rs.30 lakh

As per a press release issued by the State Bank of India, the home loan interest rates for loan amounts below Rs.30 lakh has...

Bank of Baroda and HDFC Bank reduce the MCLR

Bringing a sigh of relief for borrowers, Bank of Baroda and HDFC Bank have cut their marginal cost-based lending rates (MCLR) up to 5 and 10...

SBI: Small loan and deposit rates will continue to be linked...

The Chairman of State Bank of India (SBI), Rajnish Kumar, confirmed on Saturday that small loans and deposits i.e. those that are valued below Rs.1 lakh...

Bank of Baroda cuts lending rate by 10 BPS

Bank of Baroda has slashed its lending rate by 10 basis points, which will, in turn, make auto loans, home loans, and other loans offered by the...

Union Bank of India reduces MCLR by 10 basis points

The Union Bank of India, one of the renowned public sector banks in India, has announced a reduction in its marginal cost of funds-based...

Punjab National Bank reduces MCLR by 10bps

The public sector bank, Punjab National Bank (PNB), announced on Wednesday that it has decreased the Marginal Cost of funds based Lending Rate (MCLR) by 10 bps (basis points) for...

Interest rates to be linked to external benchmarks from April 1

Come April 1 2019, banks will link their floating interest rates to external benchmarks, with the RBI proposing this new system. The interest rates...