Rbi keeps repo rate unchanged

The Reserve Bank of India (RBI) fixed the interest rate for floating rate bond (FRB), 2031 for the next six months on Friday. The central bank has set the interest on the FRB 2031 applicable for the half year December 7, 2019 to June 6, 2020 at 6.10 per cent per annum. “It may be recalled that FRB, 2031 will carry a coupon, which will have a base rate equivalent to the Weighted Average Yield (WAY) of last three auctions (from the rate fixing day that is December 7, 2019) of 182 Day T-bills, plus a fixed spread (100 bps),” RBI said. The Weighted average yields will be computed by reckoning 365 days in a year. The coupon rate has been fixed accordingly. FRB 2031 was originally issued on May 07, 2018 with expiration date set at Dec 07, 2031. … [Read more...] about RBI fixes interest rate on floating bond 2031

by Anirban Nag India’s central bank has finally accepted the inevitable -- growth in the $2 trillion economy is slowing more than it expected. It means recovery from an unprecedented cash ban imposed late last year by Prime Minister Narendra Modi will be a long, drawn out one and not the V-shaped bounce Governor Urjit Patel had hoped for. With growth estimated to slow to a four-year low, the door’s open for more easing by the Reserve Bank of India in coming months as pressure builds on it to provide a boost to the economy that has been roiled by a chaotic roll out of the goods and services tax and the after-effects of the cash ban. Of course, the downgrade to growth by the central bank risks hurting inflows from foreign investors, many of whom have been pulling money out of high-yielding Indian assets in recent weeks. "The implementation of the goods and services tax so far also appears to have had an adverse impact, rendering prospects for the manufacturing sector … [Read more...] about RBI may not find Modi’s powerpoint presentation on growth convincing enough

Chairing the final monetary policy meeting of the decade for the RBA board, Governor Philip Lowe not only kept the official interest rate at a historic low 0.75 per cent - a move widely expected by the market - but he said “it was reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target”. MORE: Rivers, the sea, canals driving up prices Why selling off-market could cost you Australia’s biggest housing jump in 16 years How much do I need to retire? How much do I need to retire? “The Board is prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time,” Mr Lowe said in a statement released after the RBA meeting this afternoon. All but one expert in the latest Finder RBA Cash Rate Survey (97 per cent) predicted rates would hold, and a … [Read more...] about Brisbane now best of Aussie cities as rates stay at historic low 0.75pc

Once you decide on your dream car, everybody is in a hurry to drive it home. With the process of taking a bank loan being lengthy and time consuming, it is obvious that people think about ways to get an easy loan. However, it is better to take a loan from a bank than from car dealers. It makes sense to take some time, study the financial side of buying car before taking a decision. From showroom You can approach a bank for an auto loan only if you already have an account or other banking relations. But anybody can walk into a showroom to buy a car and seek an auto loan too. In fact, you can also get a loan at the speed of choosing a car. Usually, in this case, either lenders associated with the car dealers or non-banking institutions that are linked with the dealers provide the loans. The paperwork for such loans is almost similar to that of a bank loan like providing account statements and employment details. Remember that 'hassle-free' and 'minimum conditions' loans carry much more … [Read more...] about Keep these things in mind while taking a car loan

New Delhi: Finance Minister Nirmala Sitharaman on Saturday said the government is working on more steps, including rationalisation of personal income tax rates, to revive the sagging economy. The GDP growth slowed down to more than six-year low of 4.5 per cent in the second quarter of the current fiscal from 5 per cent recorded in the first quarter. The government has taken several measures during August and September to boost the economy, she said at the HT Leadership Summit here. Besides, she said, the public sector banks have disbursed nearly Rs 5 lakh crore without compromising on prudential norms in the last two months to boost consumption in the hinterland. "So there are ways in which for giving stimulus for consumption. We are adopting a direct method and also the method through which we are spending on infrastructure, whose spillover can go to core industries labour and so on," she said. Asked if there could be more measures announced to bolster economic activity, she said, … [Read more...] about Govt Working on More Measures to Boost Economy; Income Tax Rate Cut under Consideration, Says Fin Min