banking News, Indian banking Latest News update, Indian Banks, Lending Rates, Banks Interest Rates
Business Today
RBI Governor Raghuram Rajan

RBI Governor Raghuram Rajan also made a case for strengthening the payment mechanism to improve traditional method for delivery of credit.

"The target is to give loans under Mudra to one lakh people in Santhal region of the state," a state government official said.
The reduction will be effective from October 5. It is the third bank after Andhra Bank and SBI to slash lending rate after RBI cut repo rate by 50 bps on Tuesday.
According to SBI Chairman Arundhati Bhattacharya, there is a space for rate cut as the possibility of food prices going up in coming months is negligible.
According to the global financial services firm, the central bank is likely to hold the pause button in its December policy meet.
The RBI Governor was referring to the slow pace of monetary policy transmission.
Raghuram Rajan said, "RBI stance will continue to be accomodative but at the same time vigilant. Policy growth has to be steady and predicatable."
Currently, banks follow different methods for computing base rate. While some use the average cost of funds method, others have adopted the marginal cost of funds.