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
05 March, 2015 21:33 IST
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.

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
FIIs can invest up to 34% in Container Corporation - 05-Mar-2015 18:44
BEML rolls out country's biggest dump truck - 05-Mar-2015 17:45
ICICIdirect selects Tech Mahindra as techno-funda pick - 05-Mar-2015 16:35
Tele2 and HCL Technologies form strategic alliance - 05-Mar-2015 15:52
ONGC's oil production from its western offshore breaks 5 years record - 05-Mar-2015 13:07
NTPC commissions Barh Thermal Power Project - 05-Mar-2015 12:31
Tech Mahindra strengthens footprint in Vietnam - 05-Mar-2015 11:38
Aban Offshore arms redeem outstanding bonds worth Rs 13.35 bn - 05-Mar-2015 09:52
Aban Offshore arms redeem outstanding bonds worth Rs 13.35 bn - 05-Mar-2015 09:52
Axis Bank raises USD 250 mn via overseas bonds - 05-Mar-2015 09:48
Reliance Infra acquires Pipavav Defence - 05-Mar-2015 09:19
more...
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