In an unexpected move for customers, Kotak Mahindra Bank has instantly modified interest rates on fixed deposits (FD) just hours after the Reserve Bank of India (RBI) lowered the repo rate. A private-sector lender reduced the rates for specific tenure FD by up to 15 basis points while leaving depositors bothered regarding lower returns from … Read more
After a recent reduction of the repo rate of 25 basis points, effective from April 9, 2025, a spontaneous wave of interest rate cuts in the banking sector has come about, thereby granting some relief to borrowers. Two big banks (Indian Bank and Punjab National Bank) have hurried to benefit their customers by lowering their … Read more
Recording a relative balance between optimism and caution, the Reserve Bank of India (RBI) preferred 25 basis points of cautious repo rate cuts that would make room for any contingencies of the global economy and weather disturbances. The announcement on April 9 indicates the central bank’s well-calibrated approach toward supporting growth while keeping an eye … Read more