How do banks typically calculate interest and penalties for overdue credit card balances or personal loans? We primarily deal with unsecured loans such as personal […]
Tag: interest rates
RBI approves budget for FY 2025-26, signals shift in monetary policy
The Reserve Bank of India’s (RBI) central board has sanctioned the budget for the financial year 2025-26, setting the course for the institution’s key priorities […]
SBI hikes MCLR by 10 basis points across all tenors
The State Bank of India (SBI), has announced an increase in its Marginal Cost of Funds-Based Lending Rate (MCLR) by 10 Basis Points (bps) across […]
Bank of Baroda, UCO Bank and other public sector banks raise lending rates amid rising costs
In response to the rising cost of funds, three major public sector banks- Bank of Baroda (BOB), Canara Bank and UCO Bank have increased their […]
Government amends interest rates for small saving schemes for Q3
The government yesterday amended the interest rates for small savings plans for the third quarter of the current fiscal year beginning on 1st October, 2023. […]
Vehicle loans outstanding rise 22 pc in May despite high interest rates
Vehicle loans outstanding increased by 22 per cent year-on-year to Rs 5.09 lakh crore in May, notwithstanding the Reserve Bank’s rate hike spree in 2022-23. […]
Indian companies will face higher interest burden in FY24:India Ratings
Advantages to Indian companies due to lower interest rates and hence a reduction in debt are likely to be reversed in the current fiscal year […]
Bank fixed deposit (FD) interest rates could go up further, signals RBI
The intensifying competition among banks to expand their deposit base may force banks to increase fixed deposit rates going ahead, the Reserve Bank of India […]
Bank of Baroda Increases Interest Rates on Retail Term Deposits
Bank of Baroda (Bank), one of India’s leading public sector banks, announced an increase in interest rates on Domestic Retail Term Deposits, including NRO and […]
Pause in interest rate hikes may spur private investment: Sanjiv Bajaj, president, CII
New Delhi: A pause in interest rate increases by the Reserve Bank of India (RBI) could provide private investment the support it needs to build […]