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Lending rate News

22 Jun 2023

RBI Members Diverge On Further Rate Hikes As Growth Risks Emerge

The Reserve Bank of India (RBI) kept its key lending rate steady for a second straight meeting on June 8, as widely expected, but signalled monetary conditions will remain tight for some time as it looks to further curb inflationary pressures.

16 Apr 2023

BoB, IOB Hike Lending Rates On Loans; SBI Marginally Ups Deposit Rates

State Bank of India (SBI) on Wednesday increased the MCLR-linked loans by 10 bps across the overnight and up to three year category of loans -- varying from 7.95 per cent to 8.70 per cent, effective February 15.

11 Mar 2023

Canara Bank Revises Home, Other Loan Interest Rates: How Much EMIs Will Go Up

The overnight MCLR was raised by Canara Bank by 35 basis points to 7.90 percent, and the one-month MCLR was raised by 45 bps to 8 percent.

11 Feb 2023

Unlike Other Lenders, Canara Bank Cuts Lending Rate by 15% Amid Repo Rate Hike

Reserve Bank of India (RBI) hiked the repo rate the sixth time to 6.50% in the February 6-8 Monetary Policy Committee meeting to rein high inflation.

Canara Bank special fixed deposit scheme

08 Oct 2022

Canara Bank launches special FIXED DEPOSIT scheme offering 7.5% interest rate

Canara Bank introduces a special fixed deposit scheme. The scheme is for a tenure of 666 days and offers 7.50% interest. Canara earlier raised lending rate after Repo rate hike.

06 Sep 2022

Canara bank hikes benchmark lending rate; Check the new rates

Canara bank hiked its benchmark lending rate by 0.15 % on Tuesday. MCLR is the minimum lending rate below which a bank or financial institution can’t afford to lend others. The one-year benchmark is used to fix most customers loans such as auto, personal, and home loans.

09 May 2017

IDBI Bank cuts lending rate by up to 0.25%

State-run IDBI Bank on Tuesday cut its marginal cost of funds based lending rate (MCLR) by up to 0.25 per cent, further establishing the downward trend in interest rates due to the excess liquidity.

01 May 2017

PNB revises down lending rate by 0.10-0.15%

Public lender Punjab National Bank has revised down marginal cost based lending rates by 0.10- 0.15 per cent for various maturities effective Monday.

17 Feb 2017

There is more room for lending rate cuts: HDFC Bank CEO Puri

Even though the RBI left the policy rates unchanged at the last policy meet citing upside risks to inflation, borrowers can expect lower rates going forward with second largest private lender HDFC Bank today saying there is more room for banks to lower lending rates.

Finance Minister

11 Feb 2017

All finance ministers have perpetual desire for lower rate: FM

Finance Minister Arun Jaitley today said that he expected the RBI to cut interest rate but respect its decision to hold status quo.

11 Feb 2017

RBI Governor nudges banks to reduce lending rates

RBI Governor Urjit Patel today exhorted banks to reduce their lending rates to push credit demand in laggard segments, saying banks have benefited from influx of low-cost deposits and its previous repo rate cuts.

02 Jan 2017

Lending rate cuts to boost economy, push consumption: Industry

With lenders such as SBI, PNB, Union Bank of India and IDBI slashing benchmark lending rate, India Inc on Monday said the move will act as a "booster dose" for the economy and propel consumption as lending may pick up significantly.

02 Jan 2017

Home, auto, personal loans get cheapest in 6 years as banks slash lending rate

Improvement in funds flow after demonetisation, major public sector banks in the country have set off a regime of low interest rates on consumer loans like home and auto loans.

01 Jan 2017

Large amount of black money has come into banking system, remonetisation progressing well: Arun Jaitley

Talking of the positive outcome of the demonetisation undertaken by government on November 8, 2016, Finance Minister Arun Jaitley said on Sunday that large amount of money, including black money, has come into the banking system.

06 Nov 2016

Exim Bank lowers lending cost by 0.25%

In a bid to promote project exports, Export-Import Bank of India (Exim Bank) has lowered its credit cost by 0.25 percent.

18 Apr 2016

New lending rate system will perhaps take 6 months or more to work: Deepak Shenoy

Deepak Shenoy, market expert and founder of Capital Mind, talks about the current fiscal scenario and effect of the recent RBI rate cut on the Indian economy

12 Apr 2016

Axis Bank lowers lending rate by 15 bps to 8.95%

Axis Bank, the third largest private sector lender, on Tuesday announced a cut in its lending rate by 0.15 percent to bring it at par with its larger rivals.

01 Sep 2015

RBI for uniform methodology for calculating base lending rate

To ensure effective transmission of its policy rate decisions by banks, RBI Tuesday proposed a uniform methodology for calculation of their base lending rates on the basis of marginal cost of funds.

31 Aug 2015

Loans to be cheaper as HDFC Bank, Canara cut lending rate

Starting a fresh round of rate cuts after repeated calls from RBI, private lender HDFC Bank and state-run Canara Bank Monday lowered their lending rates by up to 0.35 percent, a move that will make home and other loans cheaper for consumers.

03 Aug 2015

Ex-UBS, Citigroup trader convicted in UK of Libor rigging

A trader who worked for UBS and Citigroup on Monday became the first person to be convicted by a jury in Britain of rigging the benchmark Libor inter-bank lending rate.

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