A reduction in MCLR is good news for home loan borrowers
Bank of India also cut its MCLR by 25 bps, while Bank of Maharashtra and IDBI Bank had lowered their rate by 10-15 bps on Thursday
FY20 growth projection cut to 6.9%; RBI Governor Shaktikanta Das says slowdown cyclical
While experts laud the move as a step in the right direction, earnings growth may take a 3-6 quarters to recover
The Reserve Bank of India's (RBI) Monetary Policy Committee on Wednesday cut the interest rate by 35 basis points -- the fourth successive reduction -- to a nine-year-low level
The repo rate is usually revised during RBI's credit policy announcements, which takes place every two months
t was the third consecutive repo rate cut by RBI, with cumulative reduction of 75 basis points in 2019, so far
In a growing economy, the growth rate of demand for credit is more than the growth rate of deposits
Most of the economists suggested a rate cut of at least 25 bps in the RBI's monetary policy on April 4
The brokerage had earlier expected no change in the policy rate in the April meeting
From May 1, the savings bank deposits with balance above Rs 1 lakh will earn an interest of 3.5 per cent, 2.75 per cent lower than the repo rate and lower amounts in balance will earn 4 per cent
The move will to a large extent speed up the monetary transmission process
RBI Governor Shaktikanta Das held the first meeting with heads of select commercial banks after the monetary policy review on February 6, 2019
While focusing on inflation target, monetary policymakers should remember mandate includes growth
Expected rise in CPI inflation in FY18 may contribute to a lack of consensus to cut repo rate
MPC may observe monsoon progress and GST transition before taking a decision, says ratings agency
Analysts have factored in as much as a 0.5 per cent repo rate cut
Financial conditions have eased significantly since the change in RBI's liquidity framework from April 2016