Industrial & Commercial Bank of China Ltd. and Agricultural Bank of China Ltd. lowered rates on some deposit products, easing pressure on profit margins following earlier cuts to lending rates.
1 min read25 Jul 2024With the new rates coming into effect, overnight MCLR is 8.10 percent against 8.05 percent earlier. The 3-month MCLR is now 8.45 percent against 8.40 percent earlier. The six-month MCLR is 8.65 per cent against 8.60 percent earlie
1 min read12 Apr 2024Reserve Bank of India’s June Financial Stability Report released last week highlights that the profitability of scheduled commercial banks (SCBs) continued to improve in FY23.
2 min read6 Jul 2023Bandhan Bank has revised its FCNR deposit rates for July, offering up to 4.68% in GBP and a maximum of 4.56% in USD. The bank has also revised its MCLR.
2 min read2 Jul 2023IndusInd Bank increased its MCLR rates by 5-10 basis points for select tenures, while RBL Bank reduced its MCLR rates by 10 basis points across all tenures, effective from June 22. The new rates will impact EMIs on loans such as personal loans, home loans, and auto loans.
2 min read22 Jun 2023Loss absorption by platforms through a buffer and easy withdrawals can make customers complacent
5 min read2 Jun 2023Harker is a member of the powerful Federal Open Markets Committee (FOMC), which sets the Fed’s benchmark lending rate
1 min read21 Apr 2023Kotak Mahindra Bank hikes lending rates: The revised Marginal Cost of Funds based Lending Rates(K-MCLR) will be in effect from today, 16 March
1 min read16 Mar 2023IndusInd Bank increased its MCLR rates by 5-10 basis points for select tenures, while RBL Bank reduced its MCLR rates by 10 basis points across all tenures, effective from June 22. The new rates will impact EMIs on loans such as personal loans, home loans, and auto loans.
2 min read22 Jun 2023The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared