Page-3 of Interest rate

Government of India (GoI) reduces minimum annual deposit requirement for accounts under Sukanya Samriddhi

The Government of India (GoI) has reduced the minimum annual deposit requirement for accounts under Sukanya Samriddhi Yojana from Rs. 1,000 to Rs. 250. The move will enable more people to take advantage of the girl child savings scheme. The ..

Marginal Cost of funds Based Lending Rate (MCLR)

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 ..

Tarun Ramadorai committee recommended that banks should link home loan rates to repo rate

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 ..

Reserve Bank of India (RBI)’s 3rd bi-monthly monetary policy statement for year 2016-17

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 ..

Banks cut interest rates in the aftermath of demonetisation

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 ..

CRR should be reduced: C Rangarajan

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 ..

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