The Reserve Bank of India (RBI) in its bi-monthly review of monetary policy held on 2nd August 2017 announced a cut of 25 basis points in repo rate, the rate at which the central bank lends to commercial banks, to 6%. Besides, the RBI has adjusted...
Read MoreSBI Slashes Savings A/C Rates to 3.5%, Will Others Follow the Suit?
In a landmark event in the history of Indian banking since the RBI’s deregulation on savings rate in 2011, State Bank of India (SBI) has slashed the rates on savings bank accounts by as much as 50 basis points to 3.5% per annum on a balance of...
Read MoreRBI releases new currency note of ₹200
RBI’s Mysore print has started printing the new ₹200 bills which are likely to come into circulation next month. The idea is to ease the shortage of smaller denomination notes. According to reports, RBI officials have speeden up the printing...
Read MoreRBI to Release New Currency Notes of ₹20 Denomination
The Reserve Bank of India (RBI) is likely to introduce new currency notes of denomination ₹20 under the Mahatma Gandhi series-2005. The banking regulator would release the new notes with the inset letter ‘S’ in both the number panels. The new...
Read MoreIDFC Bank and Shriram Capital to Amalgamate as Single Entity
IDFC and Shriram are planning to merge their various businesses so as create a powerhouse of ₹ 60,000 crores. The truck financing subsidiary Shriram Transport Finance and consumer lending unit Shriram City Union Finance, the two lending companies...
Read MoreEPFO Inks Pacts with 5 Banks for Collection of PF Dues
Retirement body Employees Provident Fund of India has inked an agreement with 5 banks for the collection of provident fund dues of its subscribers. The banks include biggies Bank of Baroda (BoB), HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Axis...
Read MoreRBI Monetary Policy – Home Buyers Rejoice As No Change In Repo Rate!
The Reserve Bank of India in its bi-monthly monetary policy meet which was held today came out with an announcement that there is no cut rate in the Repo Rate. Yes, that’s right.! The repo rates under the liquidity adjustment facility (LAF) will...
Read MoreRERA will Help You in Buying Your Dream Home – FAQs
RERA Act became effective from May 1, 2017 after a long and tiring struggle. Everywhere people are talking about this Act and how is it going to benefit? RERA does bring a bunch of advantages for home loan borrowers and here are some of them with...
Read MoreSBI Home Loan Rate Cut – Get Your Loan at 8.35% Now
State Bank of India (SBI) announced the rate cut on home loans by 50 bps. India’s largest lender has become the first bank to cut home loan rates two times in the year 2017. The bank has cut interest rates on home loans to 8.35% (p.a.) from 8.60%...
Read MoreSEBI Permits to Invest in Mutual Funds via Digital Wallets
Now, apart from recharging phones and paying utility bills, you can use the digital wallet to invest in mutual funds. In an attempt to utilize household savings into capital market and encourage digitalization in investment instruments, the...
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