HDFC Bank has announced a 25 basis points reduction in interest rates on its savings bank deposit accounts, marking the first cut since April 2022. Effective from 12 April 2025, this revision affects all customers across savings account balances. For balances below Rs 50 lakh, the interest rate is now 2.75% per annum, down from … Read more
While loans are set to become cheaper for customers with the Reserve Bank of India (RBI) opting to cut the repo rate by 25 basis points, deposit rates including those of small savings may be cut going forward. While banks are likely to cut their deposit rates in line with the policy rate, sources indicated … Read more
During the recent monetary policy review meeting held between February 5 and 7, 2025, the Reserve Bank of India (RBI) made the decision to reduce the policy repo rate from 6.50% to 6.25%. This marks a change after maintaining the rate unchanged for eleven consecutive meetings, which is about five years. The new Governor, Sanjay … Read more
RBI MPC repo rate: The Reserve Bank of India’s Monetary Policy Committee may go for an interest rate cut on February 7 for the first time in almost five years. During its December meeting, the RBI decided to keep the repo rate steady at 6.5% for the 11th consecutive time due to ongoing inflationary challenges. … Read more
FD rates: Ahead of the Reserve Bank of India’s (RBI) six-member Monetary Policy Committee’s (MPC) meeting this week, some of the public and private banks have revised their fixed deposit rates. The Repo Rate established by the Reserve Bank of India (RBI) plays a significant role in influencing Fixed Deposit (FD) rates. It dictates the … Read more
New loan rates: Private lender HDFC Bank has implemented revisions to its Marginal Cost of Funds-Based Lending Rates (MCLR) for select short-term tenures effective from November 3, 2024. The revision includes an increase of up to 5 basis points (bps) and applies specifically to the overnight, one-month, and three-year tenures. Post-revision, the overnight MCLR has … Read more
Mumbai: The Reserve Bank of India (RBI) is seen keeping interest rates unchanged this week as the central bank’s Monetary Policy Committee (MPC) is likely to assess the durability of recent declines in inflation while keeping a wary eye on escalating tensions in West Asia, which pose risks to local price pressures. According to an … Read more
The Reserve Bank of India (RBI) has maintained its focus on monetary stability by keeping the repo rate unchanged at 6.5% for the seventh consecutive time. This move aims to keep inflation in check within the targeted range while sustaining market momentum. The central bank’s strategy reflects careful consideration of robust economic indicators, amidst factors … Read more
India’s retail inflation likely eased to a three-month low of 5.09% in January on slowing food price rises and favourable base effects, according to economists polled by Reuters who also predicted a moderation in core inflation to 3.70%. The Reserve Bank of India, which held its repo rate at 6.50% for a sixth consecutive meeting … Read more
Mumbai: RBI is likely to keep interest rates unchanged after its monetary policy review this week as it battles inflation, said respondents in an ET poll, but some of them said a fiscally prudent interim budget and signs of global monetary easing may prompt the central bank to soften its communication on tight liquidity conditions … Read more