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Private banks cut both FD & Savings Bank Rates after the repo rate drops
India’s largest private-sector lender, HDFC Bank, has recently reduced its savings account interest rate by 25 basis points, bringing it down to 2.75%, to manage costs and protect margins following the RBI’s repo rate cut. For account holders maintaining balances above ₹50 lakh, the interest now stands at 3.25%, down from 3.5%. This move significantly […]
RBI Governor Sanjay Malhotra Unveils Bold Move – Repo Rate Drops to 6%
RBI Governor Sanjay Malhotra said that the Monetary Policy Committee (MPC) had collectively voted to reduce the policy rate (i.e. repo rate) by 25 basis points on Wednesday (April 9, 2025), which is straight down to 6% with immediate effect. This marks the second consecutive policy rate cut this year. The previous reduction occurred in […]
RBI likely to slash down rates by 25 bps to 6% on April 9, says experts
As global markets experience a sharp downturn, many economists are urging the Reserve Bank of India (RBI) to take more decisive actions in its upcoming Monetary Policy Committee (MPC) meeting starting on Monday 7, 2025. This will be the first monetary policy meeting with the RBI Governor Sanjay Malhotra for the new financial year of […]
RBI’s Moves in the New Priority Sector Lending Norms to Benefit Homebuyers
The Central Bank of India (RBI) has revised Priority Sector Lending (PSL) norms, effective from the 1st of April. These changes in Priority Sector Lending (PSL) classification aim to fuel credit flow by increasing loan limits, expanding eligibility criteria, and raising targets. The most significant part of the revision is an increase in the home […]