Bank

RBI nod to cash pay-out from prepaid instruments

The Reserve Bank of India (RBI) has given a go-ahead to a pilot project to check the technical and operational feasibility of allowing cash pay-out from prepaid payment instruments such as mobile cash of non-banking entities. This was announced by RBI Governor Raghuram Rajan in the second quarter review of monetary policy on Tuesday. The object of the programme is ... Read More »

Rajan chooses inflation over growth; was it the right choice?

The new Reserve Bank of India (RBI) Governor Raghuram Rajan’s monetary policy was expected to be less hawkish than that of his predecessor D. Subbarao*, who raised the benchmark repo rate from 6.75 per cent in March 2011 to 8.50 per cent in March 2012 though inflation had moderated in 2011/12 to 8.9 per cent. While Rajan’s last repo hike ... Read More »

RBI hikes repo rate by 25 bps, loans set to get costlier

RBI Governor Raghuram Rajan Photo: Reuters The Reserve Bank of India (RBI) on Tuesday raised the repo rate by 0.25 per cent to 7.75 per cent in its quarterly review of the monetary policy. The central bank kept the Cash Reserve Ratio (CRR), the proportion of money that commercial banks must keep with the RBI, unchanged at 4 per cent. ... Read More »

RBI expected to raise interest rate to control rising inflation

The Reserve Bank of India (RBI) has said that it expects inflation “to remain above comfort levels” this fiscal indicating that it is likely to raise the interest rate again on Tuesday to control prices despite the faltering economic growth. In the Macroeconomic and Monetary Developments report on Monday, a day before RBI governor Raghuram Rajan announces his second monetary ... Read More »

RBI to increase repo rate by 25 bps on inflation; may cut MSF: Morgan Stanley

As inflation continues to hover above its comfort zone, the Reserve Bank is likely to increase the short-term lending or repo rate by another 25 basis points in the monetary policy review due next week, American brokerage Morgan Stanley has said. “As inflation, both WPI and CPI, remain elevated and surprised on the upside last month, we expect the RBI ... Read More »

Best Loan Buys

Are you scouting for a loan to buy a house, a car or for your child’s education? Given below are the best deals on offer from public and private sector lenders. (All rates updated till October 13, 2013; Data provided by Rupeetalk.com) [“source-businesstoday”] Read More »

Keeping the Slate Clean

How will you feel if your loan application is rejected for not paying a debt that you never availed of? Worse, what if the loan in question is mentioned in your credit report as well? But how can a loan you have not taken find its way into your credit report? Whose fault is it- banks, which send customers’ details ... Read More »

Boking on over

Insurance from banks on offer for account holders might be the economic option for those who have to pay higher than normal for a health plan. This includes those who have a pre-existing condition, fall in the higher age bracket or miss having the benefits of an employer’s group health plan. Banks have tied up with insurers, usually public sector ... Read More »

Analysts expect RBI to hike repo reto by 25 bps, cut MSF by 25 bps

Photo: Reuters With headline inflation inching up to 6.46 per cent and signs of stability in the currency market, analysts on Tuesday said RBI Governor Raghuram Rajan could hike repo rate by 0.25 per cent and cut the marginal standing facility (MSF) rate by a similar margin in the October 30 monetary policy review. “In his maiden policy review, Rajan ... Read More »

LIC HFL reduces home loan rates by 0.25 per cent

Housing finance company LIC Housing Finance (LIC HFL) on Monday said it has reduced home loan rates by 0.25 per cent with effect from October 15. The new rates on home loans are applicable up to November 30. LIC HFL is also offering lower processing fee during the period, a company press release said. “The rate of interest for Bhagyalakshmi ... Read More »