Consumer inflation in India is projected to ease to an average of 4% in the current financial year, down from 4.6% in FY25, according to the latest report by Crisil. The rating agency attributed the expected moderation to softer food prices, aided by above-normal monsoon forecasts from the Indian Meteorological Department (IMD), and lower global…
With no tax benefit available, the home loan should be prepaid as soon as possible. (AI image) The 50 basis point repo rate cut by the RBI has raised hopes that home loan rates will also come down. In the past three months, the RBI has trimmed its key repo rate by 100 basis points,…
Private sector lender HDFC Bank has reduced its benchmark lending rates following the Reserve Bank of India’s (RBI) unexpected decision on Friday to cut the repo rate by 50 basis points in a bid to revive the slowing economy.The bank revised its marginal cost of funds-based lending rates (MCLR) downward by 10 basis points across…
Prime Minister Modi attacked Pakistan while speaking in Katra, saying that the country aimed to cause unrest in the region. His speech came after inaugrating major infrastructure projects and new Vande Bharat trains, aimed to boost connectivity in Jammu and Kashmir.In a surprise move, the RBI slashed the repo rate by 50 basis points, signaling…
India’s automobile sector has welcomed the Reserve Bank of India’s latest rate-cut move, calling it a timely intervention that could improve financing access, strengthen consumer sentiment, and support overall retail growth.On Friday, the RBI reduced the repo rate by 50 basis points to 5.5% and cut the Cash Reserve Ratio (CRR) by 100 basis points…
RBI monetary policy today RBI MPC Meeting: In a big cheer for loan borrowers, RBI governor Sanjay Malhotra announced a more-than-expected 50 basis points repo rate cut. The repo rate now stands at 5.5%, down from 6%. RBI has cumulatively cut the repo rate by 100 basis points since its February policy review. However, RBI…
HDFC Bank has announced a reduction in its Marginal Cost of Funds-based Lending Rates (MCLR), offering relief to borrowers whose loans are linked to this benchmark. The bank has lowered the MCLR by up to 15 basis points (bps) on select loan tenures.A basis point is one-hundredth of a percentage point, so a 15 bps…
MUMBAI: Several banks revised their external benchmark lending rates after RBI cut repo rate by 25 basis points to 6% on Wednesday. Indian Bank said it will reduce its repo-linked benchmark lending rate (RBLR) to 8.7% from 9.05%, effective April 11. PNB has cut its repo-linked lending rate (RLLR) to 8.85% from 9.1%, effective April…
The actual transmission of rate cuts works with a lag, and it usually takes a few months for loan borrowers to see a benefit. (AI image) Home loan borrowers have a big reason to cheer! The Reserve Bank of India (RBI) has cut the repo rate by 25 basis points – the second time in…
The MPC also decided to change the stance from neutral to accommodative. RBI MPC meeting: The Reserve Bank of India (RBI) governor Sanjay Malhotra announced that the Monetary Policy Committee (MPC) has unanimously decided to cut the key policy repo rate by 25 basis points to 6%. He also said that the GDP growth outlook…