Let us first look at the arguments that favour a rate cut. RBI made it clear in its last policy statement that a change in its stance to āaccommodativeā is an indication of future rate cuts. Hence, the debate on whether such a stance meant there would be more liquidity rather than rate action is…
Ever since RBI slashed repo rate last month, banks have been revising their fixed deposit interest rates. After State Bank of India (SBI) and IDBI Bank, the banks which have revised their fixed deposit interest rates are Bank of Baroda (BOB) and Kotak Mahindra Bank. Now, Bank of Baroda offers an interest in the range…
Private sector lender ICICI Bank has cut the interest rate on savings account deposits by 25 basis points (bps). This follows a recent rate cut by other private banks, including HDFC Bank and Axis Bank. The bank now offers 2.75 per cent interest for savings accounts with balances up to ā¹50 lakh, 0.25 per cent…
As the Reserve Bank of India’s (RBI) monetary policy committee (MPC)Ā cut repo rateĀ by 25 basis points on Friday, it is seen as the start of interest rate cut cycle. Typically, a cut in repo rate is followed by a similar decline inĀ interest levied on loans as well as interest rates offered on deposit rates. So,…
