Interest rate
RBI Monetary Policy Updates
The Monetary Policy Committee of RBI meets four times a year. The committee recently held its meeting on February 8, 2023. This is the first meeting since Finance Minister Nirmala Sitaraman presented her budget. The committee has four members. During ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs
Recent Wave of Tech Layoffs
Layoff means removing employees from jobs. Dismissing due to a decrease in profits. When the profit of a company is not sufficient to pay all its employees, it Lays OFF. Recently, IBM (International Business Corporation), one of the largest tech ..
Month: Current Affairs - January, 2023
Category: Economy & Banking Current Affairs • International / World Current Affairs
EPFO Interest Rate -Update
Employees’ Provident Fund Organization (EPFO) has decided to reduce the interest on provident fund (PF) deposits from 8.5% in 2020-21 to 8.1% in 2021-22. About the reduction in interest rate The interest rate of 8.1% will be the lowest interest ..
Month: Current Affairs - March, 2022
Category: Economy & Banking Current Affairs
GoI appoints Monetary Policy Committee Members
On October 5, 2020, the Government of India appointed economists Jayant R Varma, Shashank Bhide and Ashima Goyal as members of Monetary Policy Committee (MPC). Their appointments were cleared by the Appointment Committee of the Cabinet chaired by PM Modi. ..
Month: Current Affairs - October, 2020
EPFO lowers interest rate on deposit to 8.50% for FY2019-20
Employees Provident Fund Organisation (EPFO) on Thursday lowered the interest rate on deposits to 8.50 per cent for the current financial year 2019-20. The interest rate, which is the lowest rate fixed in seven years, was reduced from the previous ..
Jyske Bank launchs world’s first negative interest rate mortgage
Denmark’s third largest, Jyske Bank has launched the world’s first negative interest rate mortgage and started to offer a10-year mortgage deals at a negative interest rate of 0.5% a year. Under its negative mortgage, borrowers will pay the usual EMI ..
US Federal Reserve’s Rate Cut: Impact on India
The United States Federal Reserve has announced a quarter-percentage-point cut in interest rates. This was the first-rate cut in 11 years- the first since the global financial crisis broke in 2008. The rate cut marked a departure from the hawkish rate-hike ..
SBI introduces repo-linked home loan product
After linking its short-term loans and large savings deposits rates to the repo rate, the State Bank of India (SBI) has decided to introduce a repo rate-linked home loan product from July 1. The home loans under this product will ..