Search Results for: retail lending

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Fuel prices reduced ahead of polls in Delhi

New Delhi/ Bengaluru/ Mumbai, Feb 04 (ANI): Fuel prices have been reduced by Rs 2.42 for Petrol and Rs 2.25 for Diesel with effect from the midnight of February 3rd and 4th. Indian Oil Corporation (IOC) said it would cut the retail price of diesel by about 4.7 percent and that of gasoline by 4.1 percent from Wednesday (February 04), as global prices have eased since the last revision. AAP leader Ashish Khetan said that slashing of fuel prices was a stunt by the Central government keeping February 07 Delhi polls in mind. BJP leader Meenakshi Lekhi said that fuel prices never got reduced during Congress' rule. Meanwhile, residents gave their mixed reactions following fuel price reduction. Feb 4, 2015
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RBI holds interest rates steady, says tracking inflation and government action

Mumbai, Feb 03 (ANI): Reserve Bank of India on Tuesday held interest rates steady while boosting banks' liquidity in a bid to persuade them to lower lending rates after they failed to pass on the benefits of the last official rate cut three weeks ago. The RBI kept its policy repo rate unchanged at 7.75 percent, as expected by analysts, leaving its next reduction probably until after the government presents its annual budget at the end of this month. Instead, to prod banks to lend more and lower their lending rates, the RBI cut the statutory liquidity ratio (SLR) - the minimum portion of net deposits that banks must hold in government bonds, cash or gold - by 50 basis points to 21.5 percent from February. 7. The RBI also announced a slew of initiatives to develop markets, including allowing foreign institutional investors to re-invest government bond coupons even when their investment limits were exhausted. The RBI described the domestic economy as "subdued", regardless of the government revision of gross domestic product data, using a new formula which showed the economy grew 6.9 percent in 2013/14, instead of 4.7 percent. Feb 3, 2015
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