Benchmark Rate

The Sensex ended above 60,000 and the Nifty above 18,000 for the first time since September 14

The country's largest lender, State Bank of India (SBI), raised the Benchmark Prime Lending Rate (BPLR) by 70 basis points (or 0.7 per cent) to 13.45 per cent on Wednesday. The announcement would make loan repayment linked to BPLR costlier. The current BPLR rate is 12.75 per cent. It was revised last in June. "Benchmark Prime Lending Rate (BPLR) revised as 13.45 per cent per annum with effect from September 15, 2022," the SBI posted on its website. The bank has also raised the base rate by similar basis points to 8.7 per cent, effective Thursday. The EMI amount for the borrowers who have taken loans at the base rate would go up. These are the old benchmarks on which banks used to disburse loans. Now most of the banks provide loans on the External Benchmark Based Lending Rate (EBLR) or the Repo-Linked Lending Rate (RLLR). The bank revises both the BPLR and the base rate on a quarterly basis. The lending rate revision by the SBI is likely to be followed by other banks in the days t

The latest bout of outflows come amid a sharp surge in the equity markets

Punjab National Bank on Wednesday announced the cut in its benchmark lending rate

India Inc and experts on Friday said the RBI's decision to hold interest rates will support economic recovery in the aftermath of the Covid-19 pandemic.

The members of the Reserve Bank of India's fourth bi-monthly monetary policy Committee began their three-day meeting today, and are expected to announce the outcome on Friday

The Monetary Policy Committee (MPC) of RBI began its three-day deliberation on Wednesday here amid expectations that the central bank will maintain status quo on the benchmark lending rates in view of high retail inflation. The RBI will announce its monetary policy review on December 4. After its last MPC meeting in October, RBI kept policy rates unchanged to help tame inflation that in the recent times has surged past 6 per cent mark. RBI projected the country's GDP to contract 9.5 per cent in the current financial year due to the pandemic. It has cut policy rates by 115 basis points since February. Experts opined that RBI may not slash policy rate in the wake of rising Consume Price Index (CPI)-based inflation driven mainly by supply side issues. Amar Ambani, Senior President & Institutional Research Head at Yes Securities said with frequency indicators and GDP data conveying meaningful rebound in economic activity and retail inflation remaining stubbornly high, "we not only ...

Das doubled the size of open-market bond purchases to $2.7 billion, offered to buy state debt, and also ease a corporate cash crunch through a Rs 1 trn of targeted long-term funds available on tap

Sebi has put default benchmark rate at zero for certain ratings, tenures

Will be simple for loans, tricky for derivatives, say experts

While politicians and businessmen don't see eye to eye on anything during a slowdown, the one thing they all agree on is that cutting interest rates would spur growth

From the the banking industry's new benchmark challenge to managing the problem of urban water and restoring normalcy in the Valley, here's a selection of Business Standard Opinion pieces for the day

Benchmark rate for new loans to be lower by 80-90 bps from Friday; move could increase competition but hit commercial papers