With the change in the Reserve Bank of India (RBI) repo rate, the interest rates of other banks also change. Right after the announcement of the repo rate increase by RBI last week, many government, public and private banks raised their interest rates. In such a situation, it becomes difficultRead More →
Search mutual fund quotes, news, net asset values Addiction INE002A01018, TRUST, 500325 LIC India INE0J1Y01017, LICI, 543526 Adani Power INE814H01011, ADANIPOWER, 533096 Deepak Nitrite INE288B01029, DEEPAKNTR, 506401 Adani Wilmar INE699H01024, PUNCH, 543458Read More →
The Rivers State government has launched the state COVID-19 Action Recovery and Economic Stimulus (RIV-CARES) program.State Governor Chief Nyesom Wike conducted the launch at the NBA Secretariat in Port Harcourt yesterday.Speaking through his Deputy, Dr Ipalibo Harry Banigo, the Governor said the program aims to mitigate the impact of theRead More →
There are expectations in the money market that interbank rates will move in mixed directions amid a marginal inflow of maturing bills. In the new week, dealers said the Open Market Operation (OMO) worth N30 billion will mature through the secondary market and Nigerian Treasury Bills (NTB) worth of 25.94Read More →
CENTRAL bank governors play the crucial role of guiding economies. They are the main advisers to governments on monetary and even budgetary policy. That is why democracies around the world give them the opportunity to work without undue political pressure. It has been shown that, like the media and theRead More →
Egypt raised several interest rates again today. The Central Bank of Egypt raised its overnight deposit rate, overnight lending rate and principal transaction rate by 2% each to 11.25%, 12.25% and 11, 75%, respectively, according to a statement. What is that? A bank’s deposit rate refers to the interest rateRead More →
Hannelore Foerster/Getty Images News By Teunis Brosens, Chief Economist, Digital Finance and Regulation; Maureen Schuller, Head of Financial Sector Strategy; Suvi Platerink Kosonen, Senior Sector Strategist, Finance The era of ultra-low bank lending rates is over. Rate hike and tightening loan approval criteria add to the economic headwinds in theRead More →
India’s central bank raised its key rate in a surprise move on Wednesday amid fears of ‘shock’ inflation figures for April, a person familiar with the matter said, adding that the ultimate goal was to reverse its regime ultra-lax rates in the pandemic era. The Reserve Bank of India (RBI)Read More →
Douglas Rissing/Getty Images/iStockphoto Federal Reserve Chairman Jerome Powell reiterated that aggressive rate hikes will need to be implemented and that a half-percentage-point interest rate hike could likely take place at the next meeting. from the Fed in May. Read: 9 bills you should never put on automatic paymentLearn: 6 badRead More →
NPA pursues a 25-year port master planThe World Bank has named Nigeria’s port concession model the best in Africa. A team of experts from the World Bank, Nigeria Office on a working visit to the Nigerian Ports Authority (NPA) Headquarters in Lagos, assured that the group will continue to partnerRead More →
The GBP/EUR exchange rate was higher after the last meeting of the European Central Bank (ECB) on Thursday. The central bank did not raise interest rates as expected, but plans to withdraw its stimulus efforts sooner. It will be the first meeting of political decision-makers since the beginning of theRead More →
…says 71 million NINs have been issued for The World Bank has described overall progress in the implementation of the Nigeria Digital Identification for Development (ID4D) project as unsatisfactory. That’s even when he revealed that the country had only increased the number of National Identification Numbers (NINs) issued by 34Read More →
Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das surprised markets on Thursday with a super accommodative monetary policy that not only left rates unchanged but also kept the dovish stance. Post-policy commentary was also supportive of growth, with the governor saying next year’s borrowing program would not be asRead More →
MUMBAI: Reserve Bank of India (RBI) Governor Shaktikanta Das surprised markets on Thursday with a super accommodative monetary policy that not only left rates unchanged but also kept the dovish stance. Post-policy commentary was also supportive of growth, with the governor saying next year’s borrowing program would not be asRead More →
Liquidity conditions became less accommodative and rates rose due to larger than expected tax outflows. With larger than expected Goods and Services Tax recoveries, liquidity in the system has tightened this week, the RBI said on Thursday as it announced the floating rate repo auction. This is reflected in theRead More →
“The decisive factor in the new year will be to gradually initiate the exit from negative interest rates and unconventional monetary policy and avoid any proximity to state monetary financing,” Holzmann said in a statement. end of year on the website of his institution. The ECB has had a negativeRead More →
Find out which banks posted the highest rates on savings and money market accounts in the second quarter of 2013. Our articles, research studies, tools and reviews maintain strict editorial integrity; however, we may be compensated when you click or are approved for offers from our partners. After a longRead More →
There were two early Christmas surprises in this month’s economic news, as the Bank of England raised interest rates after a surprisingly rapid rise in inflation. While that’s not necessarily good news, there’s also reason to think things might not be too gloomy. This preview examines the economic data releasedRead More →
The new rates are applicable from December 9, said Ujjivan SFB Ujjivan Small Finance Bank announced that it had raised interest rates on term deposits (FDs) through various mandates. For ordinary citizens up to age 60, the bank will now offer an interest rate of 6.6% for deposits for termsRead More →
Express news service For most existing bank borrowers, the current ultra-low interest rate regime is like a free uneaten lunch. Indeed, even though the RBI has cut the policy rate by 250bp since February 2019, interest rates on outstanding loans have fallen by just around 100bp. Officials say transmission isRead More →
Although the transmission of deposit and credit rates has improved significantly in recent times, several factors continue to hamper efficient monetary transmission at these bank rates, the Reserve Bank of India (RBI) said. The RBI Bulletin for July 2021 noted that the central bank has made several attempts to improveRead More →
In a major effort to eliminate black money and stabilize the economy, the government issued two ordinances on July 11 and raised the bank rate to an all-time high of 10 percent. These measures followed the announcement on July 10 of price increases for a wide range of petroleum productsRead More →
Banks love to brag about the benefits and features of their accounts. But if you’re shopping for a new account, it’s worth reading critically: you might find that some of these perks are looking more and more like the bare minimum. When a bank touts its state-of-the-art security and hugeRead More →
MUMBAI: India’s central bank yesterday announced a surprise quarter-point hike in its key interest rate, signaling that the priority is to control inflation rather than stimulate growth months before an election.After a meeting in the financial hub of Mumbai, the Reserve Bank of India (RBI) raised the benchmark repo rate,Read More →