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Searched Tag: interest rate

The Reserve Bank of India (RBI) has maintained its policy rate at 6.5 percent while revising the growth forecast upwards to 7.2 percent for the financial year 2024-25 from the previous 7 percent, experts said on Friday.

RBI holds rate, stabilizes realty: Experts

June 7, 2024, 03:11 PM - 2 min read

The Monetary Policy Committee, consisting of three RBI members and three external members, decided to keep the repo rate steady at 6.5 percent for the eighth consecutive meeting. RBI Governor Shaktikanta Das emphasized the bank's cautious stance of "withdrawal of accommodation."

RBI directs banks, NBFCs to stop charging extra interest loans as probe shows non-standard practices

April 30, 2024, 03:23 PM - 2 min read

The RBI expressed serious concern over non-standard interest charging practices inconsistent with fairness and transparency, directing banks, NBFCs, and housing finance firms to refund excess interest and charges to affected customers upon discovery.

Commerce and Industry Minister Piyush Goyal on Monday exuded confidence that the Reserve Bank will cut interest rates as inflation is under control.

Piyush Goyal expresses confidence in reserve bank's impending interest rate reduction

February 19, 2024, 06:35 PM - 2 min read

"Of-course in the last year and a half, post Ukraine-crisis, interest rates have again gone up by 250 basis points. But now that inflation is pretty much in control, I suspect we will soon see the reversal of the rate hikes starting in India, whether it happens in the next or the second monetary policy from now. I think it's only a matter of time," Goyal said.