NEWS & ADVICE : SAVINGS ACCOUNTS
RBI proposes to increase the repo rate
By Vaibhav Aggarwal
Oct 17, 2013
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The recent plan of decreasing interest rates on home and automobile loans by the Punjab National Bank, State Bank of India, Dena Bank and Oriental Bank of Commerce is just a make-up since these banks may be compelled to increase interest rates on lending and deposits. Besides the latest inflation rate of 6.5 %, which is higher than the comfort zone of the RBI, numerous other factors may prompt the RBI to increase its repo rate lending to banks.

The CEO and MD of the IndusInd Bank, Ramesh Sobti said that the happenings have to be observed in the subsequent policy, and added that if there is an increase in the repo rate making the value of money precious, the rates of medium-to-longer period loans ought to be increased.


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