ANI
07 Aug 2022, 04:03 GMT+10
Mumbai (Maharashtra) [India], August 6 (ANI): Canara Bank has decided to hike its repo rate linked lending rate by 50 basis points or 0.50 per cent to 8.30 per cent with effect from August 7.
Canara Bank's decision comes just a day after the Reserve Bank of India (RBI) hiked policy repo rate to tame inflation.
As per data updated on Canara Bank website, the interest rate on home loans will be increased to 8.10 per cent for general customers.
For women customers, it will be hiked to 8.05 per cent. Canara Bank offers 0.05 per cent concession to women borrowers.
Canara Bank's decision on rate hike has come a day after the Reserve Bank of India (RBI) hiked policy repo rate by 0.50 per cent or 50 basis points.
The Monetary Policy Committee of the RBI that met during 3-5 August unanimously decided to increase the policy repo rate by 50 basis points to 5.4 per cent, with immediate effect.
Consequently, the standing deposit facility (SDF) rate stands adjusted to 5.15 per cent; and the marginal standing facility (MSF) rate and the Bank Rate to 5.65 per cent. The MPC also decided to remain focused on the withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth. (ANI)
Get a daily dose of Northern Ireland News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Northern Ireland News.
More InformationLONDON, England: Following a request by Nigeria's National Commission for Museums and Monuments, the Horniman Museum in London has agreed ...
SUSSEX, UK - After a Premier League game, a fight broke out, leading to the murder of an Irish drug ...
OTTAWA, Ontario: Military trainers from Canada will head to the United Kingdom to teach Ukrainians new techniques for fighting the ...
LONDON, England: British Airways has halted ticket sales for short-haul flights that depart before the middle of August from London's ...
LONDON, England: In 2023, America's Major League Baseball is set to return to London for the first time since 2019, ...
As Russian forces advanced in Ukraine's eastern Donbas region, volunteers raced against time under deadly fire to convince the last ...
WASHINGTON D.C.: The U.S. will participate in a joint military exercise in mid-October with India, less than 62 miles from ...
SEOUL, South Korea: South Korea has launched a domestically manufactured lunar orbiter that took off from Florida's Cape Canaveral Space ...
MOSCOW, Russia: A leading Russian scientist in the field of hypersonic flight, Dr. Alexander Shiplyuk, has been arrested on suspicion ...
LOS ANGELES, California: During a meeting that was disrupted by protesters this week, the Los Angeles City Council voted to ...
WASHINGTON D.C.: The U.S. Justice Department announced this week that former Puerto Rico governor Wanda Vazquez has been arrested in ...
OTTAWA, Ontario: Military trainers from Canada will head to the United Kingdom to teach Ukrainians new techniques for fighting the ...