United Bank of India has cut its fixed deposit rates by 0.25 percentage points from July 6 onwards. With this, the Bank now offers rates of 7.25% interest for deposits up to 269 days (from 180 days) and up to 7.75% for 270-365 days. Above one year, United Bank of India offers interest rates of […]
Axis Bank, India’s third largest private sector bank has launched a Fixed Deposit scheme titled “Fixed Deposit Plus”, which gives customers a higher rate of return on their fixed deposit investment compared to regular Fixed Deposit rates. The differential rates on Fixed Deposit Plus with a lock in are currently available for a minimum period […]
The Reserve Bank of India has flagged two key areas of concerns as far as monetary policy is concerned – the threat of poor monsoon, and the return of high inflation due to possible increase in oil prices. “While headline inflation has moderated, price pressures arising from a possible sub-normal monsoon and uncertainties about crude […]
Lakshmi Vilas Bank increased the savings interest rates to 5% on balances upto ₹5 Lakhs and 6% on balances above ₹5 Lakhs to garner low-cost deposits. At present, most banks offer 4% interest on savings bank accounts. Only exceptional banks, such as Kotak Mahindra, offer 6% – that too on balances above Rs 10,000. Meanwhile, […]
In keeping with the overall decline in lending and deposit rates, Federal Bank has cut the interest rates offered on domestic fixed deposits by 0.50 to 0.25 percentage points. The heaviest cut is in the short-term deposit rate, where interest rate has been cut to 3.5% from 4.00% earlier. On longer-term maturities, interest rate has […]
Pointing to a flattening out of the disinflationary trend, Emkay Global Financial Services said the Reserve Bank of India is unlikely to continue much farther with the ongoing rate-easing cycle. The RBI cut key interest rates by 25 basis points today – the third such cut this year – as inflation showed signs of easing […]
State Bank of India, the country’s biggest bank has expressed concern over continuing weak demand in the economy due to “entrenched disinflationary impetus and weak demand,” and suggested that the RBI should cut key interest rates. While economic growth is moderately strong right now, it said, these factors will impact IIP (Index of Industrial Production) […]
On the heels of revising the way in which the Gross Domestic Product or GDP of the country is calculated, the Central Statistics Office has revised the parameters for calculating consumer price inflation. According to the new method, January CPI inflation rose to 5.11% from 4.28% in December, while it was 5% under the old […]
Deutsche Bank said it is likely that the Reserve Bank of India would next cut policy interest rates in early March, and follow that up with more cuts through this year. It also said it was looking at the revised GDP numbers with “some degree of caution”. “The RBI will not only cut in early-March, […]
Reserve Bank of India governor Raghuram Rajan today kept key interest rates unchanged, even as he reduced mandatory cash-reserve requirements for banks in an effort to make more money available for lending. The broad reaction from the market – whether from corporates or financial services industry – was that the development was on expected lines. […]
Almost no one in the analyst community expects Reserve Bank of India Governor Raghuram Rajan to cut key interest rates during his monetary policy review tomorrow. Rajan was widely expected to cut the repo rate, at which RBI lends to the banks, tomorrow, but the governor caught the market by surprise two weeks ago with […]
The recent cut of a quarter of a percentage point in key interest rates by the Reserve Bank of India will not have any immediate impact in rates charged by banks on loans, DBS Bank said in a note. It also said the RBI is likely to go for another 50bp reduction in interest rates […]
The Reserve Bank of India is very likely to start cutting India’s key interest rates early next month, CARE Ratings said after India’s December consumer inflation number came in at a manageable 5%. It was widely expected that the recent fall in consumer inflation could undergo some reversals in December and January, and the falling […]
State Bank of India, the country’s largest bank, said it expects the Reserve Bank of India to cut key interest rates only after sees a “sustained” downward trend in inflation, and this is likely to take at least 2-3 months more. “We maintain that RBI may go for the rate cut in a decisive manner […]
The HSBC India Purchasing Managers’ Index (PMI) – a composite indicator designed to give an accurate overview of manufacturing operating conditions – reached a 21-month peak in November, the bank said. However, inflationary pressures intensified during the month, following three consecutive months of easing, HSBC said. “Among the surveyed sub-categories, the sharpest increase in purchase […]
Goldman Sachs has changed its interest rate call for India and now expects the Reserve Bank to cut key interest rates by 25bps each in February and April. It had earlier seen rates unchanged in the first half of 2015. “The main driver of this view is our commodities team’s forecast of weak oil prices […]
With wholesale inflation dipping to record lows, industry asssociations have renewed their calls for an immediate cut in interest rates. ASSOCHAM for example has sought a repo rate cut of up to 50 basis points (bps) in its fifth bi-monthly monetary policy review scheduled on December 2nd, if monsoon forecast for 2015 is normal, crude […]
Barclays has projected a consumer inflation rate of 7.0-7.5% for India in the current financial year, below the 10% level seen last year, despite the threat of a weak monsoon pushing up food prices. This would allow the Reserve Bank of India more leverage in reducing rates, it said. “The IMD (met dept) expects rains […]
Bank of America Merrill Lynch, a financial conglomerate, has said that it saw banks cutting interest rates in the upcoming slack season starting September. It said, with the RBI keeping its rates on hold as part of its monetary policy review yesterday, chances of a ‘long hold’ of Reserve Bank’s interest rates are now high. […]
Crisil Research said it did not expect any loosening of RBI’s monetary policy tomorrow due to risks of food inflation returning. Retail inflation, as measured by the Consumer Price Index (CPI), has fallen faster than expected in the last three months, from 11.2% in November 2013 to 8.1% this February. With CPI inflation now close […]
