The Reserve Bank of India is widely expected to increase short-term interest rates at its policy review in April and a slight majority of analysts surveyed also see it further increasing banks’ reserve requirements. (more…)

Duvvuri Subbarao, the Reserve Bank of India (RBI) governor, left key interest rates unchanged in the second quarter monetary policy review. However, by tweaking a few provisions, he signaled his focus on controlling asset prices and monetary inflation. (more…)

IDBI to cut home loan rates but freefall in Indian interest rates has come to and end.

Union Bank of India (UBI), today said that it has reduced interest rates on its housing and auto loans as a part of a festival offer. The public sector lender would now offer home loans at 8.50 per cent for the first three years and at floating rate linked to its benchmark prime lending rate from the fourth year onwards for loans up to Rs 50 lakh, a press release issued here said.

Housing Development Finance Corp (HDFC) has cut Indian interest rates by 50 basis points (100 basis points = 1%) for the Rs 30 lakh-Rs 50 lakh slab. (more…)

The Indian finance Minister today announced an interest subsidy of 1 per cent for one year on Indian housing loans of up to Rs 10 lakh for properties worth less than Rs 20 lakh. (more…)

The Royal Institution of Chartered Surveyors hopes the Finance Ministry will consider hiking the housing loan interest deduction limit and bringing down home loan interest rates in the coming Budget. (more…)

ICICI Bank said on Thursday it was cutting its lending rates by 50 basis points from

The benchmark advance rate, or the rate that it charges its top customers, will drop to 15.75 percent from 16.25 percent.

It also cut rates for retail customers by 50 basis points. The bank had lowered lending rates by 50 basis points in late April.

ICICI Bank, the country’s second-largest private sector lender has now cut interest rates on new home loans with immediate effect.

A bank spokesperson said new home loans of up to Rs 20 lakh would come at an interest rate of 9.75 per cent against 10 per cent now.

For home loans of Rs 20 lakh to Rs 30 lakh the interest rate has been reduced from 10.5 to 10 per cent. New home loans of over Rs 30 lakh will carry a rate of 11.5 per cent, against 12 per cent at present.

Less than a week after Indian GDP figures illustrated a reduced growth rate 5.3%, the Reserve Bank of India (RBI) has announced as predicted in our earlier post last week ,to lower the cost of lending deposit rates by trimming the repo rate and the reverse repo rate by 50 basis points each. (more…)