State Bank Of India

Photo: Facebook

SEBI Hikes Interest Rates, EMIs, Loans To Be Expensive

The country's largest public sector lender, the State Bank of India (SEBI) has increased the repo & reverse repo rate, making loans expensive for customers. The loan rate with a hike of 50 basis point, after the announcement of the RBI's new repo rate by 0.5% to take it to 5.90%, which came into effect from October 1, making EMIs to get costlier across all loan categories, including home loans.

Mon, 03 Oct 2022 - 05:45 PM / by Varsha Joshi

Tags: SEBI, business, Expensive Loan, RBI, interest rate

Courtesy: NDTV

EPFO office.

Photo: DNA India

Govt To Give 8.5% Interest Rate On EPF For FY21: Reports

Making a good announcement ahead of Diwali, the government has decided to keep the interest rate unchanged on employees' provident fund at 8.5% for the financial year 2020-21, said media reports on October 29. Reportedly, the rate will benefit over five crore users of the Employees Provident Fund Organisation (EPFO). Earlier in 2019-20, the rate was reduced to 8.5% from 8.65% for 2018-19. 

Fri, 29 Oct 2021 - 05:18 PM / by Brijesh Goswami

Tags: EPF, EPFO, Diwali, interest rate, Provident Fund

Shaktikanta Das

Photo: The Economic Times

RBI Maintains Status Quo On Repo Rate At 4%

For the seventh consecutive time, the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has kept the benchmark interest rate unchanged at 4%. Reportedly, the "accommodative stance is maintained as the economy is still recovering from the COVID-19 second wave". This move supports growth and keeps inflation in check. Accordingly, the reverse repo rate will remain at 3.35% and annual inflation at 4%.

Fri, 06 Aug 2021 - 01:32 PM / by Aditi Chavan

Tags: RBI, SHAKTIKANTA DAS, monetary policy committee, interest rate, Economy