SBI To Link Floating Rate Loans With Repo Rate: 10 Things To Know
- Under the new rule, SBI will charge a premium of 15 basis points for home loans up to Rs 30 lakh for salaried class borrowers. That means the effective home loan rate will be 8.20 per cent, according to bank's website- sbi.co.in.
- For home loans between Rs 30 lakh and Rs 75 lakh for salaried class, 40 basis points of premium will be changed. That means the effective rate will be 8.45 per cent.
- SBI said a premium of 15 basis points will be added to the card rate for non-salaried borrowers in case of home loans, according to SBI.
- A concession of 5 basis points on home loan rates will be given to woman borrowers, the bank said.
- The lender said it has voluntarily decided to extend the external benchmark-based lending to medium enterprises also, in order to boost lending to the MSME (Ministry of Micro, Small and Medium Enterprises) sector.
- The Reserve Bank of India (RBI) has time and again urged banks to transmit the benefit of lower interest rates to the consumer.Â
- Earlier this month, the central bank mandated banks to link certain loans to the external benchmark based interest rate from October 1, in a bid to allow faster transmission of its rate cuts to consumers.Â
- SBI - which had introduced floating rate-based home loans from July 1, 2019 - said it has made some modifications in the scheme effective October 1, 2019, to comply with the latest regulatory guidelines.Â
- RBI has reduced the repo rate by a total 110 basis points (1.1 percentage point) in four consecutive bi-monthly reviews so far this year.
- The RBI will announce the next monetary policy for 2019-20 on October 4.
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High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
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Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
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Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
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Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
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Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
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India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
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France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
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You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
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Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
