The MCLR for 1-year tenure loan for SBI is at 7.95 percent in January 2018 while its base rate still stands at 8.65 percent.
RBI will start the ombudsman for deposit-taking NBFCs and widen the scope to cover NBFCs with asset size of Rs 100 crore.
In order to keep the liquidity (money supply) conditions in the system to be neutral, RBI uses instruments such as repo operations, MSS and OMOs.
With a view to providing customers of Non-Banking Finance Companies (NBFCs) with a cost-free and expeditious grievance redress mechanism, it has been decided to introduce an Ombudsman Scheme for NBFCs.
The 30-share BSE Sensex rebounded 470 points in the opening trade, which was in line with the global recovery.
The Monetary Policy Committee has kept the key policy rates unchanged including the repo rates at 6 percent while the reverse repo was at 5.75 percent.
The central bank has cut GVA guidance for FY18 to 6.6 percent from 6.7 percent earlier and for FY19 the guidance has been cut to 7.2 percent from 7.4 percent
The MPC will be wary of the inflation trajectory over the next six months. India’s CPI inflation is due to increase to around 6 percent by June 2018 and from thereon glide down to around 4.5 percent by March 2019. However, the monetary policy will decidedly be on the hawkish side with very little downside visible in the inflation trajectory.
The market breadth remained positive. About four shares advanced for every share falling on the BSE.
A list of important headlines from across news agencies that could help in your trade today.
According to majority of economists, RBI may start hinting about rate hike in forthcoming policies given likely tightening interest rate cycle globally.
Growth will be very key. What RBI is thinking on growth will be very important, said Deepali Bhargava, Economist at Credit Suisse.
The fifth monetary policy for the financial year 2017-18 is likely to be a non-event as most experts predict a status quo.
RBI's internal group report on lending rates has suggested that pricing should be linked to external benchmark rates in a time-bound manner to improve transmission of policy rates
Your lending rates will soon be priced in a much more transparent manner as the Reserve Bank of India aims to link the rates to an external benchmark.
The MPC has not viewed the recent growth slowdown as being structural in nature and is expecting it to be transient with growth prospects likely to improve over the medium term, says ICICI Bank's Chanda Kochhar
Recapitalising public sector banks adequately will ensure that credit flows to the productive sectors are not impeded and growth impulses not restrained, the policy document said, which pushed PSU banks higher.
The Reserve Bank of India (RBI) on Wednesday kept its key lending rate—the repo rate—unchanged at 6 percent, dashing hopes of lower borrowing costs for households and the companies ahead of the festival season.
Stay tuned as we bring you live updates and much more on the RBI's 4th bi-monthly monetary policy announcement. The announcement will begin at 14:30 IST.
Ahead of the The Researve Bank of India's monetary policy meeet, interest rate sensitive stocks including the likes of real Estate, NBFCs and auto stocks were trading in the green while banking stocks were mixed with SBI trading positive and ICICI Bank, HDFC Bank and Axis Bank in the red.
A look at top cues from domestic and international cues that could have a bearing on D-Street.
RBI has been consistently reprimanding banks for not doing enough to pass on the full benefit of its rate actions to the borrowers .
The roadmap will include the priority areas for developing a transparent, comprehensive and near-real-time registry.
The Reserve Bank of India (RBI) on Wednesday cut its key lending rate —the repo rate — by 25 basis points (0.25 percentage points) to 6 percent