RBI Monetary Policy: Keeping some powder dry for global uncertainties and weather-related disruptions, the Reserve Bank of India (RBI) refrained from a deeper rate cut and reduced the repo rate by 25 basis points as expected on Wednesday, April 9. The six-member Monetary Policy Committee (MPC) of the RBI voted unanimously to cut the repo…
RBI Monetary Policy Committee Meeting LIVE: The Reserve Bank of India (RBI) will announce its first bi-monthly monetary policy of FY26 today, April 9. The meeting of the Monetary Policy Committee (MPC) headed by RBI Governor Sanjay Malhotra was scheduled from April 7 to 9 and the credit policy decision will be announced today. The…
This reflects a proactive but calibrated approach to support an economic recovery, while staying focused on gradually aligning Consumer Price Index inflation with its mandated target of 4%. The MPC’s forward-looking approach is commendable, especially given the long lags of policy transmission. That rate cut came on the back of several liquidity-easing measures announced on…
Kotak Mahindra Bank has slashed its interest rates on savings accounts effective February 17, 2025 soon after the Reserve Bank of India (RBI) reduced its repo rate by 25 basis points. Below are some important updates which all customers of the bank should know: What are Kotak Mahindra Bank’s new savings account interest rates? As…
The interest charged on loans is the most important price in an economy. And its rate is nudged up and down by the lender of last resort—the Reserve Bank of India (RBI) in our case—for good reason. It helps keep the economy’s growth path stable. Inflation held on a tight rein, RBI’s explicit mandate since…
In December, the MPC opted to play safe. It maintained a status quo on rates (by a 4:2 majority) and stance on the grounds that the beast of inflation, though slain, had not been destroyed, and growth, though slowing, remains resilient. Two months later, the MPC, with a new governor at the helm, seems to…
Private lending major HDFC Bank has increased its Marginal Cost of Funds-based Lending Rate (MCLR) for the overnight tenure by 5 bps from 9.15 per cent to 9.20 per cent. This is effective from February 7, 2025, according to the bank’s website. Rates for all other tenures are unchanged. Overall, HDFC Bank’s MCLR is from…
Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to open on a cautious note on Friday ahead of the Reserve Bank of India’s (RBI) monetary policy decision today and amid mixed global cues. Asian markets traded lower, while the US stock market ended mixed overnight, with the S&P 500…
Asian currencies also slumped after the dollar rallied on Trump’s sweeping tariffs that impose a 25% levy on Mexican and Canadian imports into the U.S., while those from China will attract a 10% charge. The tariffs kick in on Tuesday. While intermittent dollar sales from state-run banks helped limit the rupee’s decline, the absence of…
The backdrop of the monetary policy committee (MPC) meeting later this week is a complex one. Growth momentum has slowed in 2024-25. Headline retail inflation is still high despite softening from the recent peak. The government maintained strong fiscal discipline, despite offering tax concessions towards boosting private consumption, reflecting a decelerating expenditure budget. Importantly, this…
