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
24 September, 2014 05:55 IST
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
Eurozone PMI signals further waning of growth in September - 23-Sep-2014 18:12
Nagesh Arekar on how to trade in Axis Bank, M&M and Bharti - 23-Sep-2014 18:06
Arcotech bags order worth Rs 1.57 bn - 23-Sep-2014 18:03
Thermax Babcock bags export order worth Rs 3.4 bn - 23-Sep-2014 17:56
Rupee slips 13 paise against dollar to settle at 60.95 - 23-Sep-2014 17:41
Ind-Ra affirms IDBI Bank at 'AA+' - 23-Sep-2014 17:18
RBI Committee on capacity building in banks & non-banks - 23-Sep-2014 17:13
Bajaj Electricals bags order worth Rs 1.08 bn - 23-Sep-2014 16:51
Sensex plunges 431 points to settle below 27,000 - 23-Sep-2014 15:58
Aarti Ind board approves demerger of pharma, home & personal care segment - 23-Sep-2014 15:43
Sensex falls 296 points; Tata Motors, Cipla, Hindalco drag - 23-Sep-2014 14:41
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Security Code type   dh9zhj 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