Tag Archives: rate

Latest Interest Rate On PPF, Income Tax Benefits, Withdrawal, Loan Facilities And Other Details

The rate of interest on PPF is compounded annually (Representational image) HIGHLIGHTS PPF, other small savings schemes interest rates are set every quarter Deposits in PPF account are eligible for tax deductions under Section 80C Up to Rs. 1.5 lakh can be claimed for a financial year under Section 80C COMMENTSPPF or Public Provident Fund is one of the most ... Read More »

World Bank Says India Has “Enormous Potential”, Projects 7.3% Growth Rate In 2018

India needs to take steps to boost investment prospects, according to World Bank. WASHINGTON:  HIGHLIGHTS India’s growth numbers of past three years “very healthy” According to World Bank, the country has favourable demographic profile But reducing youth unemployment, pushing for private investment critical With an “ambitious government undertaking comprehensive reforms”, India has “enormous growth potential” compared to other emerging economies, ... Read More »

World Bank Says India Has “Enormous Potential”, Projects 7.3% Growth Rate In 2018

India needs to take steps to boost investment prospects, according to World Bank. WASHINGTON: HIGHLIGHTS India’s growth numbers of past three years “very healthy” According to World Bank, the country has favourable demographic profile But reducing youth unemployment, pushing for private investment critical With an “ambitious government undertaking comprehensive reforms”, India has “enormous growth potential” compared to other emerging economies, ... Read More »

HDFC Bank cuts savings account interest rate by 50 bps: As rates fall, it’s time you shift to liquid funds

HDFC Bank on Thursday announced slashing interest rate on savings accounts starting this Saturday, joining a spate of banks who underwent the similar exercise in recent weeks. According to the bank, customers who maintain a savings bank account balance of Rs 50 lakh and above will continue to earn interest rate at 4 percent per annum. Similarly, customers having a ... Read More »

U.S. Economy Grew At 2.6 Percent Rate In 2nd Quarter

Cars on a dealer lot in Pittsburgh. Consumer spending helped drive economic growth in the 2nd quarter to more than double first quarter GDP. Gene J. Puskar/AP The U.S. economy grew at an annual rate of 2.6 percent between April and June. It was nice comeback from the tepid 1.2 percent annual growth rate of the first quarter and more ... Read More »

UK economic growth rate edges slightly higher

A stronger UK film industry helped the service sector to expand, the ONS said. UK economic growth edged slightly higher in the three months to June, as a stronger service sector offset weaker manufacturing and construction. The Office for National Statistics (ONS) said the economy expanded by 0.3% in the quarter, up from 0.2% in the previous three months. But ... Read More »

Bank of England: pay figures will fuel raging interest rate debate

Bank of England may be amenable to higher rates of interest. Photograph: Hannah Mckay/Reuters There is more fuel for the raging debate around UK interest rates this week, with official figures on pay growth out on Wednesday. Investors and policymakers alike are looking for any signs that a tight labour market can translate into faster pay growth, a trend that ... Read More »

Yellen: Fed interest rate hike may be ‘appropriate’

US Federal Reserve chair, Janet Yellen, has said it may be “appropriate” for the central bank to raise interest rates at one of its upcoming meetings. The bank’s next meeting on monetary policy is on March 14 and 15. Speaking to Congress she said delaying rate hikes would be “unwise”, and could leave the Fed having to move too fast ... Read More »

US raises key interest rate by 0.25% on strengthening economy

The US Federal Reserve has raised its benchmark interest rate by 0.25%, only the second increase in a decade. The central bank voted unanimously to raise the key rate to a range of 0.5% to 0.75%, citing a stronger economic growth and rising employment. But the central bank said it expected the economy to need only “gradual” increases in the ... Read More »

UK’s current GDP growth rate won’t last, warns business body

“The business as usual” approach taken by many firms following the Brexit vote has helped boost UK growth this year, but it will not last, the British Chambers of Commerce (BCC) has warned. The business body expects GDP to grow by 2.1% this year, up from the 1.8% it forecast just three months ago. But uncertainty over the UK’s EU ... Read More »