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RBI Repo Rate: Reserve Bank Governor Sanjay Malhotra announced a major proposal to liberalise the RBI’s co-lending guidelines for banks and NBFCs to expand their ambit beyond priority sector lending, to which they are currently restricted.
Under what conditions does the bank have the right to recover money from the heirs of the borrower? Let us figure out the answers to these questions.
The Reserve Bank of India (RBI) on Thursday cut benchmark lending rate by 0.25% to 6.25% on expectation of inflation staying within its target range, a move that may make home and other loans cheaper.
Three more banks including Syndicate Bank and Citi India on Friday reduced benchmark lending rates by up to 1 percent, joining others in the rate cut bandwagon.
Joining the rate cut bandwagon, Bank of Baroda on Thursday lowered its lending rates by up to 0.75 percent -- which will lead to cheaper home and corporate loans.
Home and other loans are all set to be cheaper as major banks such HDFC Bank and Canara Bank joined the rate cut bandwagon by cutting lending rates up to 0.9 percent.
Joining the rate cut bandwagon, HDFC Bank, Wednesday lowered its lending rates by up to 0.9 percent -- which will lead to cheaper home and corporate loans.
Housing, auto and corporate loans are all set to become cheaper with several PSU and private banks steeply reducing benchmark lending rate by up to 1.48 percent after spurt in deposits following demonetisation.
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ICICI Bank on Monday reduced benchmark lending rate by 0.7 percent across various maturities.
To cash in on the 7th Pay Commission payout to government employees, state-owned Punjab National Bank(PNB) is offering them home and auto loans at attractive rates of 9.3-9.8 percent beginning this month.
EMIs of home, auto and other loans are likely to come down further with Finance Minister Arun Jaitley on Friday saying that banks have promised greater rate cuts in the coming days and weeks.
In its second surprise rate cut within two months, RBI on Wednesday slashed benchmark interest rates by 0.25 percent, a move that may bring down EMIs for home, auto and other loans and give a boost to the economy.
Axis Bank, country's third largest private lender, on Tuesday said it will be announcing festive season offers on its auto loans and credit card offerings in the next few weeks.
Axis Bank, country's third largest private lender, Tuesday said it will be announcing festive season offers on its auto loans and credit card offerings in the next few weeks.
GM Finance says it has received a subpoena from the US Department of Justice for documents related to subprime auto loans.
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