RBI is expected to hold the repo rate, retain its accommodative stance and also continue with its government bond purchase programme for around Rs 1 lakh crore.
The Reserve Bank of India’s monetary policy committee (MPC) maintained key interest rates for a sixth straight meeting on Friday while retaining an accommodative stance to revive the economy amid coronavirus pandemic-induced stress. The repo rate and the reverse repo rate were kept unchanged at 4 per cent and 3.35 per cent, respectively, said RBI Governor Shaktikanta Das in a statement on Friday after a three-day meeting of the committee in Mumbai. The central bank reduced its FY22 GDP forecast to 9.5 per cent from the earlier estimate of 10.5 per cent. It projected retail inflation in FY22 at 5.1 per cent. The committee will continue with accommodative stance as long as necessary to revive and sustain growth on durable basis and to mitigate impact of Covid-19 on economy,” said Das.
SBI customers alert! State Bank of India takes BIG decision on home loans - Check details
The country s largest lender State Bank of India (SBI) has given a big gift to the home buyers
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Updated: May 1, 2021, 03:55 PM IST
SBI Home Loan: The country s largest lender State Bank of India (SBI) has given a big gift to the home buyers. SBI has reduced the interest rate on home loans and is now offering exclusive interest rates starting from 6.70% onwards.
CS Setty, MD (Retail & Digital Banking) said, SBI, being the market leader in home finance, assumes the ownership in bolstering consumer sentiments in the home loan market. The affordability for the consumer increases immensely with the present home loan interest rate offerings which reduce the EMI amounts substantially. I am sure these measures will give a fillip to the real estate industry too .
RBI monetary policy review: Repo rate cut by 25 bps to 6 per cent; loans to get cheaper
RBI monetary policy review: Repo rate cut by 25 bps to 6 per cent; loans to get cheaper
The Monetary Policy Committee (MPC), Led By Reserve Bank Of India Governor Urjit Patel, Decided To Cut The Repo Rate, Or Key Lending Rate, By 25 Basis Points To A Seven-year Low Of 6 Per Cent On Wednesday. The Repo Rate Slash Shall Make The Loans Cheaper For The Consumers.
News Nation Bureau | Edited By : Gautam Lalotra | Updated on: 02 Aug 2017, 03:48:11 PM
New Delhi:
The Monetary Policy Committee (MPC), led by Reserve Bank of India Governor Urjit Patel, decided to cut the repo rate, or key lending rate, by 25 basis points to a seven-year low of 6 per cent on Wednesday. The repo rate slash shall make the loans cheaper for the consumers.