30 August, 2014 03:38 IST
News
Good news for borrowers - bankers signal cut in loan rates
Source: IRIS (29-JAN-13)
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
India's Forex reserves fall USD 811 mn - 29-Aug-2014 18:01
Indian economy grows 5.7% in Q1, highest since Q4 FY12 - 29-Aug-2014 17:49
High-market concentration major issue in Sun Pharma-Ranbaxy deal: CCI chairman - 29-Aug-2014 17:05
Jan Dhan scheme to eliminate corruption at delivery level: Assocham - 29-Aug-2014 16:58
Credit to industry grows 10.1% in Jul'14; service sector credit up 12.3% - 29-Aug-2014 16:43
Non-food bank credit grows 12.6% in Jul'14; agri-credit up 19.5% - 29-Aug-2014 15:54
India's external debt rises 7.6% to USD 440.6 bn on NRI deposits - 29-Aug-2014 15:20
Zydus gets USFDA nod for Telmisartan tablets - 29-Aug-2014 13:44
Asian markets lower in early trade - 29-Aug-2014 11:13
European markets settle lower - 29-Aug-2014 11:09
US stocks settle marginally lower - 29-Aug-2014 11:02
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   3mzyy5 into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer