The hefty discounts come amid an unprecedented slump in the auto sector. Sale of automobiles crashed by 23.5 per cent to 18,21,490 units in August, the worst ever decline in a month on a year-on-year basis since 1997-98

Currently, the secondary loan market in India is largely restricted to sale to asset reconstruction companies and ad hoc sale to other lenders including banks, but there is no formalised mechanism to deepen the market.

FM Nirmala Sitharaman press meet: The FM says that as part of affordable housing, the government will give additional deduction up to Rs 1.5 lakh for interest paid on loans borrowed up to March 31, 2020, for purchase of house valued up to Rs 45 lakh

Overall inflation in the food basket, measured on the basis of consumer food price index (CFPI), rose to 2.99 per cent in August 2019, in comparison to 2.36 per cent during the previous month

\"The government should boost public spending for the revival of the economy. A good monsoon will revive economic activities in the rural market, while the bank recapitalisation will enhance liquidity,\" said Seshagiri Rao, Joint Managing Director & Group CFO, JSW Steel

\"So if I take a photograph called India, it is always challenging. If I look at a movie called India - and I am looking at it from the lens of an entrepreneur over the last 30-35 years - it's an exhilarating journey,\" Kotak said

One year MCLR (marginal cost of funds-based lending rate), to which all the retail lending rates are pegged, stands at 8.15 per cent with effect from Tuesday, from 8.25 per cent earlier.

The largest bank in the country, the State Bank of India (SBI), has slashed its retail term deposit rate twice in the last fortnight for less than Rs 2 crore deposit category.

SBI rate cuts: The new rates will be effective from Tuesday. This is the third rate reduction announced by SBI in the current fiscal year.

The bank has waived loan processing charges and will provide home loan at concessional rates, BoI general manager Salil Kumar Swain said

Frequent changes in interest rates may result in issues in the management of cash flows of the borrowers as EMIs may change more frequently

Continuing its gaining streak for the second stright session, PNB share price gained as much as 3.42 per cent to hit a day's high of Rs 61.95 after opening higher at Rs 61.80 on the BSE

Shares of Oil and Natural Gas Corporation Ltd. (ONGC) rose over 9% intraday on Thursday after the oil and gas company issued a clarification on the fire accident at ONGC's oil and gas processing plant in Uran processing unit.

Home, auto loans to get cheaper! RBI makes repo-linked interest rates mandatoryThe Reserve Bank of India has mandatorily asked banks to link their loan products to key repo rates or external benchmarks. The change will come into effect from October 1, 2019. The move will make home loans and auto loans cheaper from October onward as the banks will now be forced to pass on the multiple rate cuts the RBI has made in recent monetary policy meetings.Unemployment rate hits three-year hi...

The lending rates of banks on home or personal loans are actually a function of their cost of funds, overheads, risk premium and profit margin. That's the reason why you pay less for a safe mortgage (home loan) and more for an unsecured personal loan

The Indian rupee will not regain ground lost against the dollar in the coming year, according to strategists polled by Reuters, who believe a recent rollback of a surcharge on foreign investments will have no impact on the currency.

India is likely to miss its fiscal deficit target for the current financial year, despite receiving an additional dividend from the the Reserve Bank of India (RBI), five government officials and advisers said, as tax collections have sunk amid a sharp slowdown.

Gold prices dropped on Thursday as risk-on sentiment got a boost after China and the United States agreed to hold talks to end their protracted trade dispute.