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Interest on home, auto, MSE loans to be linked to new benchmarks

Thursday, December 6, 2018, 5:40 PM

In a bid to ensure greater transparency, the RBI proposed that floating interest rates on personal, home, auto and micro and small enterprises (MSEs) loans will linked to external benchmarks like repo rate or treasury yields, from April 1 next year. Currently, banks follow system of internal benchmarks, including Prime Lending Rate (PLR), Benchmark Prime Lending Rate (BPLR), Base rate and MCLR.
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RBI keeps repo rate steady at 6.5% in monetary policy review

Wednesday, December 5, 2018, 3:04 PM

The Reserve Bank of India has kept the repo rate, the rate at which banks borrow from RBI, unchanged at 6.50% in its fifth bi-monthly monetary policy review of 2018-19. The status quo comes amid moderation in GDP growth and easing inflation. After back-to-back hikes since June, the RBI had kept interest rates unchanged in the October policy review.
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RBI tightens rules on state bond valuations in blow to banks

Thursday, June 7, 2018, 11:53 AM

RBI on Wednesday tweaked an obscure old rule relating to the valuation of state government securities, a move that market insiders warn could pile more pain on state-run banks laden with bad debt. RBI said investors in state government bonds will now have to value this debt at market prices, and not at a fixed mark-up that was allowed for years.

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