[ad_1] Bank of Baroda said on Thursday it would keep its lending rates unchanged across all tenures, a move aligning with the decision of the Reserve Bank of India to hold rates at 6.5%. On Wednesday, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has left the key lending rate (repo rate) unchanged […]
HDFC Bank increases MCLR rates on two tenures: Borrowing costs set to rise – CNBC TV18
[ad_1] HDFC Bank has increased its marginal cost of funds-based lending rates (MCLR) by up to 5 basis points (bps) for select tenures, effective today. This adjustment brings the bank’s MCLR interest rates to a range of 9.10% to 9.50%, potentially impacting borrowing costs for consumers. The revision specifically affects the six-month and three-year tenures, […]
FM Sitharaman calls for innovative deposit schemes to address banking imbalance – CNBC TV18
[ad_1] Finance Minister Nirmala Sitharaman urged banks on Saturday to devise innovative and appealing schemes to boost deposit mobilisation. Speaking after the Reserve Bank of India’s board meeting, she said that deposits and lending are like two wheels of a cart, with deposits currently lagging behind. Sitharaman expressed concern over the slow growth in deposit […]
Bank of Baroda and Canara bank to hike interest rates from Monday – CNBC TV18
[ad_1] Leading public-sector banks, including Bank of Baroda, Canara Bank, and UCO Bank, have increased their Marginal Cost of Funds-based Lending Rate (MCLR) across various tenures, resulting in higher costs for most consumer loans. This move follows the Reserve Bank of India’s (RBI) decision to maintain the benchmark interest rate at 6.50% for the ninth […]