Should you take loans linked to benchmarks other than repo rate? Which banks offer these?
According to the RBI Monetary Policy Report, 36 banks out of 62 banks have adopted repo rate as an external benchmark whereas six banks have adopted the market-based benchmarks such as CD rate, 3-month treasury bill etc.
These banks have cut interest rates on loans
For instance, Bank of Baroda announced that it has reduced its repo-linked lending rate (BRLLR) ...
Personal loan sanctions to get tougher
According to a report by TU Cibil, default rates will move up most in personal loans and credit cards,...
The events that led to external benchmarking of loans and what borrowers should do now
The year 2019 saw the shift in the way interest rates loans to be charged. The Reserve Bank of India announced that with effect from October 1 interest rate on all new floating loans has to be linked to any of the four external benchmarks.
Bank of India slashes external benchmark lending rate by 75 bps
The lender's external benchmark lending rate is linked to the RBI's repo rate, which was reduced by 75 bps to 4.40 per cent on March 27.
Bank of Maharashtra introduces new external benchmark based lending rate, cuts MCLR
For overnight, one month, three months and six months, MCLR have been reduced to 7.40 per cent, 7.50 per cent, 7.60 per cent and 7.70 per cent, respectively.
Sebi relaxes compliance requirement for performance benchmarking of AIFs
As part of efforts to streamline disclosure standards, the regulator in February put in place mandatory performance benchmarking of AIFs.
Indian IT firms cut spends on external learning, focus on internal courses
“Indian companies (technology firms) have scaled down in learning and development during the past few months, whereas global peers have maintained their spending in building their workforce,” said a senior executive at one of the top five digital technology course providers, adding that “they may have taken a conservative approach”.
China to revamp benchmark equity index, STAR as pursues growth
Red-chip stocks are those incorporated outside mainland China but listed on Chinese bourses.
Allahabad Bank lowers external benchmark-linked loan pricing
The Asset Liability Management Committee (ALCO) of Allahabad Bank on Saturday announced a cut of up to 40 basis points in interest rate on external benchmark-linked products.
How to check your credit score
It is important to know your credit score while applying for a loan from a bank or any other financial institution.
From Oct, loans to be linked to external benchmarks. How will this impact borrowers?
Loans linked to external benchmarks are going to be the norm from October 1.
China expected to keep lending benchmark unchanged: Analysts
Thirty-four respondents, or 73.9% of participants in the survey, expected no change to the one-year loan prime rate (LPR) or the five-year tenor in its monthly fixing on Wednesday.
Prolonged growth slowdown likely to hit India's external sector: SBI report
As per SBI's research Ecowrap report, India is likely to end the current fiscal with current account surplus, if the oil prices in the international market remain subdued and do not show volatility during the course of the financial year.
Top 5 banks' home loan interest rates
The Reserve Bank of India has directed banks to link their lending interest rate to an external benchmark rate such as repo rate. The aim is to provide greater transparency and faster transmission of changes in the policy rates.
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