Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
25 October, 2014 15:40 IST
News
Good news for borrowers - bankers signal cut in loan rates
Source: IRIS | 29 Jan, 2013, 03.17PM
Comments  |  Post Comment

Welcoming the RBI credit policy, most bankers on Tuesday signaled reduction in interest rate on loans following the central bank's decision to cut repo and CRR by 25 bps.

Commenting on the credit policy, Chanda Kochhar, managing director & CEO, ICICI Bank said, 'While the rate cut signals a monetary policy stance that is more supportive of growth, the CRR cut complements the same by seeking to address liquidity conditions and will facilitate transmission of the monetary policy stance into lending rates.''

Both Aditya Puri, managing director, HDFC Bank and RK Kamath, chairman and managing director, Punjab National Bank said most banks will consider monetary policy transmission to borrowers.
 
However, Kochhar expects deposit rates will not go down from current levels. 

While Seshagiri Rao, JMD & Group CFO, JSW Steel said the transmission of lower interest rate to borrowers in response to cut in repo rate should take place swiftly as the banks have already reduced deposit rates for the past few months.


From the News Room
Cheerful start to Samvat 2071:Sensex ends 63 points higher; Nifty reclaims 8,000 - 23-Oct-2014 20:06
Sensex opens 102 points higher in Muhurat trade - 23-Oct-2014 18:38
Muhurat Trading on BSE, NSE today - 23-Oct-2014 17:50
Rupee gains 4 paise against dollar to settle at 61.28 - 22-Oct-2014 18:06
Wipro consolidated Q2 profit rises 8% - 22-Oct-2014 16:46
BSE inks strategic pact with Yes Bank - 22-Oct-2014 16:23
Gold: Its history and recent trends - 22-Oct-2014 16:12
Diwali cheers for markets, Sensex ends 212 points higher - 22-Oct-2014 16:04
Asian Paints consolidated Q2 profit climbs 6.4% - 22-Oct-2014 15:36
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   73ny6v into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer