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Indian equities pared all its initial gains to trade on a flat note after RBI announced rate hike. It has raised the short-term lending and borrowing rates by 25 basis points to tame high inflation, a move that would make home, personal and corporate loans costlier. The hike was in line with market expectations. This […]

Credit cards are set to become an integral part of a new countrywide financial inclusion drive that will pitch gram panchayats as the basic planning unit for delivery of financial services. The finance ministry has drawn up a comprehensive plan that requires banks to provide a kisan credit card to every farmer and a general […]

It may be a case of too little too late. The government is affecting to provide some relief to small home loan borrowers by providing a 1% interest subsidy for loans upto Rs 15 lac, provided the cost of the property does not exceed Rs 25 lac. The proposal, which is expected to be approved […]

With inflation remaining high, the Reserve Bank on Monday indicated that it may go for another round of interest rate hike tomorrow even though the step may impact the economic growth. The expected rate increase by RBI would be its 13th since March 2010 and will make home and car loan costlier. “Inflation risk persists. […]

Base rate system The base rate was introduced by the RBI to replace the opaque and ineffective Benchmark Prime Lending Rate (BPLR). Under the previous system, banks were expected to lend above their BPLR, which was based on their true cost of funds. However, over time, competition forced the banks to give loans at rates […]