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The move is expected to prompt banks to lower the deposit rate in line with the small savings rate as offered by the government.

Govt cuts interest rate on small savings schemes by 0.1 per cent

Interest rate for 5-year Senior Citizens Savings Scheme will now fetch a lower rate of interest at 8.6 pc from 8.7 pc.

29 Jun 2019 12:03 PM IST

The Reserve Bank last month put IDBI Bank under watch by initiating Prompt Corrective Action against it.

IDBI Bank cuts MCLR by 5-10 bps across various tenors

The lender has reduced its one-year MCLR or the minimum lending rate to 8.95 per cent.

12 Jun 2019 3:39 PM IST

The needless controversy between the government and the RBI is a direct consequence of economists without any practical experience in administering policies at a high level being inducted to executive positions.

Highlights of RBI's monetary policy statement

Raises retail inflation forecast for Apr-Sept to 3-3.1 per cent and 3.4-3.7 per cent in Oct-March.

6 Jun 2019 12:48 PM IST

Shaktikanta Das

RBI cuts key rate by 25 bps, changes neutral policy stance to...

Benchmark interest rate was cut by 0.25 per cent to 5.75 per cent from 6.00 per cent.

6 Jun 2019 12:04 PM IST

State Bank of India

SBI slashes deposit rates by 20-75 bps

For five years to up to 10 years, the new rate is 6.5 per cent.

30 July 2019 1:21 AM IST

Finance Minister Nirmala Sitharaman addressing Cooperative Group Housing Society Maha Sammelan. (Photo: ANI)

FM Sitharaman seeks more rate cuts, says no review on overseas...

India's benchmark 10-year bond yield was down 10 bps at 6.43 per cent after falling to 6.42 per cent.

29 July 2019 11:14 AM IST

One of the most important sectors from which bank generate its income is through the Home Loan department.

How SBI, ICICI Bank cut MCLR will affect your home loans EMIs? read

A cut of 5-10 bps will not take down home loan interest rate instantly for the existing home loan borrower.

24 July 2019 1:21 PM IST

The agenda going forward is clear: The banks have to regain the confidence of investors so that they can raise funds from the capital markets and not be dependent on government. (Representational image)

FDs of Small Finance Banks vs Commercial Banks: Which one should you...

SFBs are giving interest rate up to nine per cent on their regular FDs and offering 9.5 per cent in case of senior...

19 July 2019 1:51 PM IST

Finance Ministry

Govt to soon issue clarification on applicability of surcharge on...

FM Sitharaman proposed to increase surcharge from 15 pc to 25 pc on taxable income between Rs 2 cr and Rs 5 cr.

9 July 2019 8:30 AM IST

If you are under the age of 60, heres a check list to help you plan your money decisions to create wealth, insure adequately, and save tax in 2018-19.

Budget 2019: High-end income group people need to pay 3 pc to 7 pc...

Budget 2019 proposes to make return filing compulsory for persons, who have deposited more than Rs 1 cr in a current...

5 July 2019 2:57 PM IST

The CBT, headed by labour minister, is the apex decision-making body of the EPFO which finalises rate of interest on PF deposits for a financial year.

8.65 pc interest on EPF to be notified soon: Gangwar

EPFO had provided a five-year-low interest rate of 8.55 per cent to its subscribers for 2017-18.

30 Aug 2019 1:11 PM IST

The police arrested chief executive and an executive director of state-run Bank of Maharashtra on Wednesday, accusing them of misusing their authority in making loans to a property developer.

Bank of Maharashtra to link retail loans with repo rate

The bank has already linked the housing loan interest rate with repo rate.

26 Aug 2019 11:11 AM IST