Page 2 - Latest Updates on Lending Rate
Punjab National Bank cuts repo-based lending rate by 25 bps to 6.55%
State-owned Punjab National Bank (PNB) on Friday said it has slashed the repo-based lending rate by 25 basis points (bps) to 6.55 per cent.
 "Punjab National Bank cuts repo-based lending rate by 25 bps to 6.55%")
HDFC enhances existing limit to borrow via medium-term bonds up to $2.8 bn
The country's largest mortgage lender HDFC Ltd on Wednesday said it has enhanced its existing limit to raise capital through medium-term notes to up to USD 2.8 billion (about Rs 20,875.65 crore).
 "HDFC enhances existing limit to borrow via medium-term bonds up to $2.8 bn")
Top headlines: Banks lending, deposit rate bottomed out; UK clears vaccine
From UK approving Pfizer vaccine for public rollout to plans afoot for creating vaccine supply chain, here are top headlines this morning
 "Top headlines: Banks lending, deposit rate bottomed out; UK clears vaccine")
Good news for borrowers: Bank of Baroda cuts lending rate by 15 bps to 6.85%
Bank of Baroda, India's third-largest public-sector bank, announced a reduction in repo-linked lending rate from 7 per cent to 6.85 per cent
 "Good news for borrowers: Bank of Baroda cuts lending rate by 15 bps to 6.85%")
RBI's decision to cut lending rate will make loans affordable: Sitharaman
The RBI reduced the repo rate by 40 basis points to a historic low of 4 per cent, besides extending loan moratorium for all retail and commercial borrowers by another three months till Aug 31
 "RBI's decision to cut lending rate will make loans affordable: Sitharaman")
HDFC cuts lending rate by 5 bps for salaried people, effective from March 9
HDFC cuts lending rate by 5 bps for salaried people, effective from March 9
 "HDFC cuts lending rate by 5 bps for salaried people, effective from March 9")
Fitch Rating slashes India's GDP growth forecast to 5.5% for FY20
Weakness has been fairly broad-based, with both domestic spending and external demand losing momentum, Fitch said
 "Fitch Rating slashes India's GDP growth forecast to 5.5% for FY20")
RBI cut in lending rate complements govt's measures for growth: FinMin
The government has taken a slew of measures since August 23 to pull the economy out of a six-year low growth and a 45-year high unemployment rate by reviving private investments
 "RBI cut in lending rate complements govt's measures for growth: FinMin")
RBI unlikely to extend October 1 deadline for repo-linked loans
The RBI is of the opinion that banks already have enough flexibility to introduce a repo-linked loan product
Repo-link effect: Banks likely to raise risk spread, say analysts
Private sector bankers have earlier warned that repo is inherently a volatile rate, but linking the lending rates to the short-term treasury bills would be even more volatile
 "Repo-link effect: Banks likely to raise risk spread, say analysts")
Top 10 biz headlines: External benchmarking of rates, GST cut mooted & more
From RBI making it mandatory to link all fresh retail loans to an external benchmark to the FinMin crunching numbers to estimate revenue loss from GST rate cuts, here are today's top business news
 "Top 10 biz headlines: External benchmarking of rates, GST cut mooted & more")
Linking lending and repo rates may eat into bank's profitability
Current situation may not allow banks to significantly tinker with deposit rates making it tough to fully pass on the fall in repo rate
 "Linking lending and repo rates may eat into bank's profitability")
Public sector banks volunteer to link their lending rates to repo
Analysts said this would possibly squeeze the banks' profit margins because lending rates could not be lowered immediately
HDFC reduces prime lending rates on home loans by 10 bps from August 1
For women borrowers, there is an extra 5 bps discount in each category of loans
 "HDFC reduces prime lending rates on home loans by 10 bps from August 1")
Banks need to overcome problems fast to lend large credit: Rangarajan
The primary role of the banks is to raise deposits and lend, former RBI governor
 "Banks need to overcome problems fast to lend large credit: Rangarajan")
After SBI's 90 bps move, more banks slash lending rates
Dena Bank, Kotak Mahindra Bank, ICICI Bank are among the lenders that picked up cue from SBI
 "After SBI's 90 bps move, more banks slash lending rates")
