Costly loans beckon as Rotich commits to rate cap law repeal
Treasury Cabinet Secretary Henry Rotich. FILE PHOTO | NMG The Treasury has committed to the International Monetary Fund (IMF) that it will repeal or reform the 18-month-old law capping interest rates in what could More...
Budget 2018: Rate of Income tax in top 10 countries by GDP
crescendo, taxpayers are concerned about the new income tax slabs that will be announced on February 1 as these slabs would determine the amount an individual will have to pay as taxes on their income in FY19. Currently, More...
Pound to dollar exchange rate – sterling remains steady with the US currency
Sterling was firmer against both the dollar and the euro ahead of the UK budget on Wednesday. And the pound – up 0.23% to 1.3245 against the dollar this morning – was helped further following press More...
RBI lowers growth forecast to 6.7%, holds repo rate citing risk to inflation
Home and auto loan rates are unlikely to change, after the Reserve Bank of India (RBI) left its key policy rate unchanged on Wednesday, citing higher risks to inflation. The central bank slashed its growth forecast More...
This SBI Account Has No Minimum Balance Charges But Offers Same Interest Rate
SBI in a Twitter post said that its Basic Savings Bank Deposit accounts offer same interest rates as its other savings bank accounts but do not charge any penalty for not maintaining monthly average balance. The More...
RBI Likely To Hold Policy Rate Till Fiscal Year-End: Kotak Institutional Equities
New Delhi: The Reserve Bank of India is expected to pause rate cuts for the rest of fiscal year 2017-18 as retail inflation is likely to tread higher towards 4.7 per cent by March, according to a report by brokerage More...
RBI Likely To Hold Policy Rate Till Fiscal Year-End: Kotak Institutional Equities
New Delhi: The Reserve Bank of India is expected to pause rate cuts for the rest of fiscal year 2017-18 as retail inflation is likely to tread higher towards 4.7 per cent by March, according to a report by brokerage More...
RBI sets rupee reference rate at 63.9474 against dollar
The Reserve Bank of India on Tuesday fixed the reference rate of the rupee at 63.9474 against the US dollar and 76.5514 for the euro. The corresponding rates were 63.8859 and 76.7334, as on Monday. According More...
Savings rate cut: These banks are still offering 6% interest, here’s a look
The savings account rate is at its lowest in six years, which is directly affecting small savers. Latest entrant in the list of banks reducing rates is Canara Bank. On Friday, the bank cut the interest rate of More...
Punjab National Bank To Cut Minimum Lending Rate From September
New Delhi: Punjab National Bank has cut marginal cost based lending rates by up to 0.25 per cent for select maturities, effective tomorrow. The state-owned lender has also slashed its base rate by 0.20 per cent More...