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SBI to link home loans to repo rate from July

Saturday, June 8, 2019, 8:58 AM

SBI, the country's biggest mass-lender, began a new era of transparency in consumer loans by linking the pricing of its home-financing products to the central bank policy rate used for setting the broader cost of debt in the economy. Starting July-1, consumers would have the option to take SBI home loans pegged to the central bank repo rate, the lender said in a statement.
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RBI Announces a 25 bps Cut in Repo Rate

Thursday, June 6, 2019, 12:14 PM

The Reserve Bank of India (RBI) on Thursday announced a 25 bps to 5.75% cut in the repo rate. The announcement comes two days after the Monetary Policy Committee convened over the policy. This was the first RBI meet after the new Narendra Modi government took charge and also the last one ahead of the Union Budget 2019.
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Good monsoon, govt support could revive rural demand

Wednesday, June 5, 2019, 1:14 PM

Rural demand for groceries and daily essentials, which showed signs of slowing in the past-three-quarters, could revive after New-Delhi extended the assured income support(PMKisan) scheme for farmers. Expectations that rains would be normal this monsoon season should also lift buying power in villages. Consumption in rural India, which accounts for about a third of market, has lately outpaced the rate of expansion in cities.

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