Interest Rates Current Affairs, GK & News

GoI: Interest Rates on Small Savings Schemes lowered

On March 31, 2020, the Government of India lowered interest rates of several small savings scheme facing Economic challenges created by the threat of COVID-19 virus. Highlights The interest rates of the schemes like Sukanya Samriddhi, Kisan Vikas Patra and Pubilc Provident Funds were reduced. The changes were introduced for Q1 of the fiscal year ..

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Retail Inflation at 5-year high of 7.35% in December, 2019

According to the data released by Ministry of Statistics and Programme Implementation on January 13, 2020, the food inflation increased to 14.12% in December 2019 as compared to 10.01% in November 2019. The CPI (consumer Price Index) rose to 7.35% as compared to 5.54% the previous month. The inflation was increase was mainly due to ..

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Reserve Bank of India (RBI) cuts its key lending rate

As per 4th bi – monthly Monetary Policy Statement for 2019-20, the Reserve Bank of India (RBI) has cut  its key lending rate — repo rate – by 25 basis points to 5.15% in an effort to boost a sluggish economy as inflation remains in a comfortable zone.  This is the 5th consecutive rate cut ..

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PF rate to remain unchanged

After a lengthy discussion by the various Union Ministries involved in the process, the Union Government has decided to notify an 8.65% interest rate for the PF deposits in India. This offered rate of interest is the same as the one offered last year. What has happened? The Labour Ministry and the Finance Ministry had ..

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RBI cuts policy repo rate in its 3rd bi-monthly Monetary Policy Statement for FY 20

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has recently announcement its 3rd bi-monthly Monetary Policy Statement for FY 20 (2019-20). In it, RBI reduced the policy repo rate under the Liquidity Adjustment Facility (LAF) by 35 basis points (bps) from 5.75% to 5.40% with immediate effect. Consequently, the reverse repo ..

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