Last Updated:February 27, 2025, 11:00 IST The RBI’s revised policy, which will come into effect on April 1, 2025, lowers the risk weights, requiring banks to reserve less capital for loans to NBFCs Bank Nifty Today Bank Nifty ended its four-day losing streak and posted gains on February 27, buoyed by strong performances from major…
NEW DELHI: Bank of Maharashtra has cut interest rate by 25 basis points on retail loans, including home and car loans, in line with reduction in repo rate by RBI. The benchmark rate for home loan has been reduced to 8.10%, one of the lowest in the banking industry, the bank said. Source link
MUMBAI: The RBI‘s State of the Economy report said high-frequency indicators point to a sequential pick-up in economic activity in second half (Oct-March) of 2024-25, with momentum expected to continue. However, financial markets remain uncertain due to slowing pace of disinflation, potential tariff impacts, and selling pressures on emerging market economies from foreign portfolio investors,…
Last Updated:February 18, 2025, 18:00 IST From April 01, 2016, the payment of interest on Savings Bank Account is on a quarterly basis. Thus, the Savings Bank interest calculated on daily product basis will be paid at quarterly intervals on 30th June, 30th September, 31st December & 31st March each year. Kotak Mahindra Bank. Kotak…
Last Updated:February 17, 2025, 11:48 IST In the RBI’s Monetary Policy Committee (MPC) meeting held between February 05 to February 07, 2025, the members unanimously decided to cut its Repo Rate (benchmark lending rate) by 25 basis points to 6.25 per cent from 6.50 per cent. RBI cut repo rate by 25 bps. SBI Home…
MUMBAI: RBI has lifted restrictions it imposed on Kotak Mahindra Bank in April 2024, which had prevented it from on-boarding new customers through its online and mobile banking channels and from issuing fresh credit cards, the lender informed exchanged. RBI had placed restrictions on the bank for inadequacies in its IT systems. According to Kotak…
Last Updated:February 07, 2025, 10:10 IST RBI Repo Rate Cut Impacts: Apart from lower EMIs for existing borrowers, the RBI rate cut will also make home loan, auto loan and personal loan cheaper for new borrowers. RBI Rate Cut Impact On EMIs. RBI Repo Rate Impact: Days after the income tax cut, there is one…
Last Updated:February 02, 2025, 08:51 IST During the Monetary Policy Committee meeting on February 7, the RBI is expected to decide on a cut in repo rates. These banks updated their interest rates on fixed deposits in January. At the Monetary Policy Committee (MPC) meeting on February 7, the Reserve Bank of India (RBI) is…
MUMBAI: Forex reserves fell for the sixth consecutive week to a 10-month low of $625.9 billion as of Jan 10, declining by $8.7 billion in the week and $23.5 billion in five weeks. The decline – down $79 billion from an all-time high of $704.9 billion in late Sept – reflects RBI‘s dollar sales and…
MUMBAI: The rupee sank closer to the 86 level, recording its tenth consecutive week of decline against the dollar. The local currency closed at 85.97 against the greenback, down 12 paise from Thursdays’ close of 85.85. The rupee is likely to breach 86 levels on Monday with the dollar index surging sharply late evening after…
