BASIS POINTS
FM Sitharaman to meet PSU bank chiefs on June 27 to review annual growth
Finance Minister Nirmala Sitharaman will meet heads of Public Sector Banks on June 27. They will discuss financial performance and implementation of government schemes. This meeting follows the Reserve Bank's rate cut. The RBI reduced the repo rate and cash reserve ratio. The Finance Minister may urge banks to increase lending to boost economic growth.
Bajaj Finance cuts deposit rates, removes benefits for senior citizens
"Deposit rates are going down in line with the monetary policy announcement, where the RBI (Reserve Bank of India) cut repo cuts by 50 basis points," said Anup Bhaiya, managing director and CEO, Money Honey Financial Services.
Bank of Maharashtra slashes retail loan rate by up to 50 bps
Bank of Maharashtra has reduced its retail loan interest rates by up to 50 basis points, effective June 10, with home loans starting at 7.35% and car loans at 7.7%. This move follows the RBI's recent rate moderation. Bank of Baroda also cut its MCLR by 5 basis points across various tenors.
Home loan EMIs to fall: Canara Bank, Union Bank, Indian Overseas Bank cut lending rates after RBI repo rate cut
Following the Reserve Bank of India's repo rate cut, Canara Bank, Union Bank of India, and Indian Overseas Bank have reduced their Repo Linked Lending Rates (RLLR), offering relief to home loan borrowers.
Union Bank of India, Canara Bank, IOB cut lending rate by 50 bps
Union Bank of India and Indian Overseas Bank have reduced lending rates by 50 basis points, aligning with the RBI's recent rate moderation. This revision includes a decrease in the External Benchmark Lending Rate (EBLR) and Repo Linked Lending Rate (RLLR), benefiting both new and existing retail and MSME borrowers. IOB's RLLR will decrease from 8.85% to 8.35%.
RBI's policy rate cut to boost growth as inflation eases: BoB report
Reserve Bank of India will cut the policy rate. This move aims to boost economic growth. Price pressures are expected to ease. Liquidity will increase and credit flow will be supported. The Monetary Policy Committee maintained India's GDP growth forecast. The focus now shifts to the US Federal Reserve. A pause in rate changes is expected from the US Fed.
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Private sector banks slash FD rates following rate cut
Following the Reserve Bank of India's policy rate cut, several banks including HDFC, ICICI, IDFC First, and Kotak Mahindra have decreased fixed deposit interest rates by 10-35 basis points. Public sector banks like Canara Bank and Indian Bank have also adjusted their rates downwards. These adjustments reflect lenders' responses to the lower benchmark interest rates, impacting retail depositors.
India's rising household debts are not worrisome: SBI report
It said India's household debt is manageable and not worrisome at all, as two-thirds of the portfolio is of prime and above credit quality and the rise is attributed to a growing number of borrowers rather than an increase in average indebtedness.
HDFC Bank cuts these lending rates by 10 bps; check details
HDFC Bank announces a cut in its MCLR. This benefits borrowers with loans linked to this benchmark. The reduction is up to 10 basis points on select tenures. The revised rates range from 8.90% to 9.10%. These rates are effective from June 7, 2025. This follows the Reserve Bank of India's repo rate cut.
Lower home loan EMIs for loans from PNB, Indian Bank, Bank of Baroda, BOI as RBI cuts repo rate by 50 bps
Home loan interest rates: Following the RBI's repo rate cut to 5.50%, four major public sector banks, including PNB, BoB, Indian Bank, and BOI, have reduced their home loan interest rates. These revisions, effective in early June 2025, lower the Repo Linked Lending Rates (RLLR) by 50 basis points.
Should investors move from long-term to short-term debt funds after RBI's rate cut?
Fund managers advise investors to consider shifting from long-term to shorter-term bond funds. This comes after strong gains in long-term debt funds. The Reserve Bank of India is expected to pause rate cuts. Experts suggest focusing on accrual-based strategies. Floating rate funds are also recommended. Investors should lower their return expectations.
How will RBI's rate cut impact bank profits and interest rates?
Following the RBI's policy measures, banks are poised to benefit from increased liquidity. This influx allows for strategic deployment into credit or securities, boosting interest income while anticipated deposit rate cuts lower funding costs. Consequently, net interest income and profit margins are expected to improve, with NIM pressure potentially bottoming out by the end of the September quarter.
Banks begin slashing lending rates after RBI's rate cut; home, small business loans to get cheaper
Following the Reserve Bank of India's repo rate cut, banks like Bank of Baroda and Punjab National Bank have lowered their repo-linked lending rates by 50 basis points, benefiting home loan borrowers and small businesses. Bank of Baroda's RLLR is now 8.15%, while PNB's is 8.35%.
RBI’s surprise rate, CRR cuts may accelerate banks’ earnings recovery: Analysts
Reserve Bank of India's unexpected rate cut may boost bank earnings. Analysts predict net interest margins will recover faster than expected. The CRR reduction should soften the impact on margins. It will also improve liquidity. Experts believe this is more beneficial for banks than NBFCs. The rate cut may initially pressure margins.
Bond yields up despite higher rate cut
Bond Street witnessed a volatile trading day. The 10-year benchmark security yields increased. This happened despite the Reserve Bank of India's repo rate cut. The change in the central bank's policy stance impacted the yields. Experts predict the 10-year yield to stabilize. Some anticipate further rate cuts later in the year. The five-year bond yield experienced a slight decrease.
Rate cut cycle likely over now, policy to stay data-driven: Union Bank of India
Union Bank of India's report suggests the RBI's recent actions signal the end of the interest rate cutting cycle, projecting a terminal repo rate of 5.50 per cent. The RBI's "stealth easing," including rate cuts and liquidity measures, aims to boost credit growth, though the impact may take several quarters to materialize.
PNB cuts lending rate in line with RBI policy
Following a significant 50 basis points repo rate cut by the RBI, Punjab National Bank has reduced its lending rates by up to 50 basis points, effective June 9, 2025. This move aims to make EMIs more affordable for both existing and new borrowers, with home loan rates starting from 7.45% and vehicle loans from 7.8% per annum.
RBI cuts repo rate by 50bps; here's what key economists say
The Reserve Bank of India (RBI) surprised markets by reducing the repo rate by 50 basis points to 5.5% and cutting the Cash Reserve Ratio (CRR) by 100 basis points. This move aims to boost economic growth amid subdued momentum and easing inflation.
RBI's 'bold' 50 bps cut to reduce interest rates, improve credit access: India Inc
Reserve Bank of India reduced the interest rates. This move aims to boost economic growth amidst global challenges. The central bank also lowered the cash reserve ratio. This will increase liquidity in the banking system. The rate cut should encourage borrowing and investment. Experts believe this will support consumption and credit demand. The RBI expects economic growth at 6.5 percent.
Deepest RBI cut in five years will take deposit rates lower
Reserve Bank of India's rate cut of 50 basis points is set to decrease deposit rates. Banks have already begun lowering deposit rates. Since February, most banks have reduced deposit rates by 40 basis points. The rate cuts will take six to nine months to fully materialize.
Uday Kotak hails RBI's MPC decision to cut 50 bps repo rate, 100 bps CRR as ‘bold and strategic’
Uday Kotak lauded the central bank's monetary policy announcement as bold and strategic. He emphasized the 50 basis point rate cut, the 100 basis point CRR reduction, and the shift to a neutral policy stance. Kotak believes this nuanced approach effectively balances economic growth with the need to maintain macroeconomic stability amidst global challenges and weak demand.
RBI rate cut to positively impact automobiles sector
The Reserve Bank of India's decision to cut the policy rate by 50 basis points is expected to positively impact the automobile sector by making loans cheaper. Industry bodies like SIAM and ACMA believe this move will stimulate demand, lower borrowing costs, and ease working capital pressures, especially for MSMEs.
RBI takes up axe in hand for frontloading rate cuts to push 3D India
The Reserve Bank of India cut the repo rate by 50 basis points to 5.50%, marking its third consecutive reduction and totaling 100 basis points of cuts in 2025. It also slashed the Cash Reserve Ratio (CRR) by 100 basis points to 3%, injecting additional liquidity into the banking system. The RBI shifted its monetary policy stance from "accommodative" to "neutral", citing muted inflation and the need to support economic growth.
RBI’s surprise 50 bps rate cut seen reviving real estate demand. Here's what it means for property investors
In a move expected to unlock a fresh wave of housing demand, the Reserve Bank of India on Friday slashed the repo rate by 50 basis points to 5.5%, marking the third straight rate cut under Governor Sanjay Malhotra.
Nilesh Shah praises RBI’s bold rate cut, says even Trump may urge Fed to follow
The Reserve Bank of India (RBI) surprised markets with a significant 50 basis point repo rate cut to 5.50% and a 100 basis point CRR reduction. Nilesh Shah believes this bold move will positively impact bond and equity markets, even suggesting the U.S. Federal Reserve might follow suit.
RBI delivers on growth, time to shift focus to structural reforms: Nilesh Shah
The Reserve Bank of India (RBI) surprised markets by front-loading pro-growth measures, including a 50 basis point rate cut and CRR cut, leading to positive reactions in both bond and equity markets. Nilesh Shah of Kotak AMC suggests the RBI may now focus on other areas of the economy after injecting significant liquidity into the system.
Rupee rises 13 paise to 85.66 against US dollar as RBI cuts policy rate by 50 bps
The rupee pared initial losses and appreciated 13 paise in morning trade on Friday, after the Reserve Bank cut repo rate by a higher-than-expected 50 basis points to prop up growth.
RBI MPC meeting: When and where to watch Sanjay Malhotra & Co's announcements?
The RBI's Monetary Policy Committee, led by Governor Sanjay Malhotra, is expected to announce its decision on Friday, June 6, potentially cutting the repo rate by 25 basis points to 5.75%. This move aims to bolster domestic growth amidst easing inflation, marking the third consecutive rate reduction. Some anticipate a deeper cut to further stimulate economic activity.
India long duration bonds rise on bets of dovish RBI policy
Indian government bonds saw an increase early Thursday. This rise was led by longer-duration papers. Traders were adding positions before the Reserve Bank of India's policy decision. The central bank is expected to cut policy rates. The yield on the benchmark 10-year bond decreased. The Reserve Bank of India's policy decision is due on Friday.
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