Last Updated:February 23, 2025, 15:16 IST In its latest meeting, the RBI’s Monetary Policy Committee (MPC) had unanimously decided to cut the repo rate by 25 basis points to 6.25%. RBI cuts its repo rate by 25 bps. State-owned Bank of Maharashtra (BoM) has reduced interest rates on retail loans, including home and car loans,
The Reserve Bank of India (RBI) released draft norms for prepayment penalties on loans on Friday, February 21, where it proposed to scrap the foreclosure charges on floating-rate loans for retail and MSME borrowers. Once approved, this will apply to all floating-rate loans. The central bank added that the loans granted for business purposes to
“As the debt manager of the government, we are watchful of what exactly is happening. If something needs to be done, we will interact with the government and deal with it,” the RBI governor said. | Photo Credit: PTI Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday (August 10, 2024) said trading of