The Reserve Bank is likely to keep the benchmark interest rate unchanged at its bi-monthly monetary policy review outcome to be announced on Friday, but may revise growth estimates in view of the September quarter GDP turning out to be better than RBI‘s earlier projections. According to experts, the stubborn retail inflation, which has remained … Read more
Policy rates cannot dip below a threshold, beyond which a rate cut could be counter-productive and lead to an economic contraction rather than stimulating it, according to a research report by SBI economists. They further said that lowering policy rates below 3.5% could be counterproductive and recommended an activist fiscal policy going forward. The report … Read more
The State Bank of India (SBI), India’s largest public sector lender, announced Wednesday morning that it has reduced its marginal cost-based lending rate (MCLR) by 5-10 bps for shorter tenor loans (i.e., up to three months). According to the bank’s press release, the new rates will be effective from July 10, 2020 and that it … Read more