Page-3 of Interest rate Current Affairs, GK & News
The marginal cost of funds based lending rate (MCLR) refers to the minimum interest rate of a bank below which it cannot lend, except in some cases allowed by the RBI. It is an internal benchmark or reference rate for the bank. MCLR actually describes the method by which the minimum interest rate for loans ..
The Reserve Bank of India (RBI) appointed committee on Household Finance has recently recommended that banks should link their home loan rates to the RBI’s repo rate, the rate at which it lends to banks. The committee, whose recommendations are not binding, suggests that this will allow for better and more transparent transmission of interest ..
Topics: Banking • Economy • Financial services • Floating interest rate • Interest rate • Interest Rates • Loans • Monetary Policy • Money • Official bank rate • Repurchase agreement • Reserve Bank of India
According to the Reserve Bank of India (RBI)’s 3rd bi-monthly monetary policy statement for year 2016-17, the policy repo rate under the Liquidity Adjustment Facility (LAF) has reduced by 25 basis points from 6.25% to 6.0% with immediate effect. This move is expected to lower EMIs for home, auto and personal loans. This is the ..
Topics: Bank rate • Economy • Finance • Finance in India • Inflation • Interest rate • Interest Rates • Liquidity adjustment facility • Monetary Policy • Money • Repurchase agreement • Reserve Bank of India
State Bank of India along with some private banks has cut the interest rates on deposits. SBI has cut the interest rates on deposits from 1 year to 455 days to 6.90%. This may not be in the interest of those who are depositing their money in banks. The yields on 10-year government bond which ..
The Prime Minister’s Economic Advisory Council Chairman, C Rangarajan, has opined to reduce the use of CRR and suggested that it should be used only in extraordinary circumstances. As per him, the need for using it reduces with the option of Open Market Operations (OMOs) already in place. Cash Reserve Ratio which is abbreviated as ..
Topics: Central bank • Economy • Financial services • Interest rate • Market liquidity • Monetary base • Monetary Policy • Monetary policy of India • Money • Money Supply • Open market operation • Repurchase agreement