A- A A+
Last Updated : Sep 21 2019 1:09AM     Screen Reader Access
News Highlights
Many pressing challenges before international community require stronger global commitment: PM            PM Modi embarks on seven-day US visit tonight            Govt cuts corporate tax rate for domestic investors            World Wrestling C'ships: Bajrang Punia wins bronze medal            Boxing: Amit Panghal becomes first Indian to enter World Men's C'ship finals           

Business News

Aug 08, 2019
1:40PM

Loans to get cheaper as RBI cuts repo rates

PTI
Loans are set to get cheaper as Reserve Bank of India cut repo rate by 35 basis points to 5.40 per cent yesterday. 

The move is said to give a fillip to the economy. This was the fourth consecutive time that the Monetary Policy Committee reduced the rates. 

Consequently, the reverse repo rate under the liquidity adjustment facility stands revised to 5.15 per cent, and the marginal standing facility rate and the Bank Rate to 5.65 per cent.

Within hours of the steep reduction in the repo rates, country’s largest lender, State Bank of India announced a 15 basis points reduction in its lending rates. 

The SBI, in a statement, said, the new rates of 8.25 per cent will be effective from 10th of this month. After this cut, SBI home loans have become cheaper by 35 bps since April. 

The bank is offering a repo linked home loans from 1st July this year.
 

Live Twitter Feed

Listen News

Morning News 20 (Sep) Midday News 20 (Sep) News at Nine 20 (Sep) Hourly 20 (Sep) (2300hrs)
समाचार प्रभात 20 (Sep) दोपहर समाचार 20 (Sep) समाचार संध्या 20 (Sep) प्रति घंटा समाचार 20 (Sep) (2305hrs)
Khabarnama (Mor) 20 (Sep) Khabrein(Day) 20 (Sep) Khabrein(Eve) 20 (Sep)
Aaj Savere 20 (Sep) Parikrama 20 (Sep)

Listen Programs

Market Mantra 20 (Sep) Samayki 20 (Sep) Sports Scan 20 (Sep) Spotlight/News Analysis 20 (Sep) Samachar Darshan 20 (Sep) Radio Newsreel 19 (Sep)
    Public Speak

    Country wide 19 (Sep) Surkhiyon Mein 19 (Sep) Charcha Ka Vishai Ha 18 (Sep) Vaad-Samvaad 3 (Sep) Money Talk 3 (Sep) Current Affairs 20 (Sep)