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The Monetary Policy Committee (MPC) on December 5 unanimously decided to keep the repo rate unchanged at 5.15 percent in its sixth bi-monthly policy meeting while retaining an accommodative stance.Even though the D-Street was expecting a 25 bps rate cut at the bare minimum, experts say that RBI's decision to maintain the repo rate at 5.1 percent is "not a big deal.""It is a surprise. But, the RBI has already given 135bps repo rate cut, and one policy waiting is not a big deal. We will see another 60-70 bps rate cut in 2020 as inflation will cool off," Kaushik Das, Chief Economist - Deutsche Bank, told CNBC-TV18.Close A rate cut generally augurs well for companies that are debt-laden (as it reduces interest cost), banks as well as, non-banking financial companies (NBFCs) as it brings down the cost of funds. For the real estate sector, a fall in interest rates means lower EMIs. related news Bulls to remain on driver's seat till Nifty trades above 11,700 RBI Credit Policy | … [Read more...] about Experts say RBI may cut repo rate by 60-70 bps in 2020; 15 rate-sensitive stocks to bet on

In a relief to home loan borrowers, HDFC Bank has reduced its marginal cost-based lending rates (MCLR) by 5-10 basis points across tenors. The new rates are effective April 8.India's largest private sector bank has cut its overnight MCLR to 8.30 percent from 8.35 percent and one-month rate to 8.30 percent from 8.40 percent. The three-month MCLR has been revised to 8.40 percent from 8.45 percent, six-month rate to 8.50 percent from 8.55 percent, one-year rate to 8.70 percent from 8.75 percent, two-year rate to 8.80 percent from 8.85 percent and three-year rate to 8.95 percent from 9 percent.It had last revised its MCLR on March 7.Close The Reserve Bank of India (RBI) has reduced its key policy rate by 50 basis points (100 bps=1 percentage point) in two consecutive rate cuts since February. In response, lenders have not been able to pass on the entire benefit to customers due to tight liquidity conditions. related news Karvy case: SAT halts further transfer of client … [Read more...] about HDFC Bank cuts MCLR by 5-10 bps across tenors

Congress general secretary Priyanka Gandhi Vadra on Thursday questioned the claims of Union Home Minister Amit Shah and Chief Minister of Uttar Pradesh Yogi Adityanath on the law and order situation after a rape victim was set on fire in Unnao."Yesterday the home minister of the country and the Uttar Pradesh chief minister clearly lied that law and order in Uttar Pradesh has become better. Seeing such incidents everyday angers the mind. BJP leaders should now come out of false propaganda," Gandhi said in a tweet.The Congress leader also tagged a news report of the incident in which a rape victim from Unnao in Uttar Pradesh was allegedly set ablaze early on Thursday morning by five men.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his … [Read more...] about Priyanka Gandhi Vadra targets Amit Shah, Yogi Adityanath over law and order in UP

Moneycontrol BureauThe Reserve Bank of India (RBI) left the repo rate unchanged in its December policy review while maintaining accommodative stance, as it expects past monetary easing and measures taken by the government to feed into the real economy gradually.All six members of Monetary Policy Committee (MPC) voted in favour of a pause, the central bank said in a statement on December 5.Close To catch all the action from the Monetary Policy Meet, click here related news RBI Credit Policy | To issue draft norms for cooperative banks to strengthen safety of deposits Households expect inflation to rise, businesses see weak demand: RBI survey RBI Credit Policy | Monetary Policy Committee raises consumer inflation target for October-March to 4.7-5.1% Following are the key takeaways from the monetary policy:On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (December 5, 2019) decided to:- … [Read more...] about RBI Monetary Policy: A quick read of the policy document

Manisha GuptaOnion prices in major Asian markets like Nepal, Bangladesh and Sri Lanka have climbed to $2-$6 per kg over the past few weeks, up $0.5-$1 per kg, with experts attributing the sudden demand from India as one of the reasons.Across the world, onion prices are up around 12 percent on an average, over November.Close India, the world’s largest exporter of onions, banned exports in September, and this is likely to continue for a while till prices come under control. related news Centre deliberately creating scarcity of onion in Delhi: Sisodia Nexus between BJP, hoarders responsible for rocketing onion prices: AAP Despite rising prices and shortage at home, India continues to export onion to Maldives A similar trend in onion prices has also been seen in countries like China, Iran, Indonesia and South Korea, where prices have risen between 9 percent and 22 percent over the last one month.The National Horticulture Development Board (NHDB) has estimated India’s … [Read more...] about Onion prices in Asia surge 9-22% as India scouts for imports