Banks to offer short-term crop loans up to one year at 7 per cent per annum. Farmers paying back loans promptly will be offered another 3 per cent subvention.
FBIL already publishes the overnight and term Mumbai interbank offer rate (MIBOR).
RBI said the currency printing presses are equipped with state-of-the-art machinery, documented systems and technically qualified personnel.
If the investment cycle picks up, it provides a sustainable pedestal for growth to rise.
Though working capital loans still dominate the bank’s corporate balance sheet, HDFC Bank is increasing looking at term loans especially refinancing opportunities.
The Securities & Exchange Board of India has asked rating companies to downgrade any company to ‘junk’ if it misses its loan repayment.
Kaushik Basu believes that demonetisation was an unfortunate policy intervention.
Profit before tax from India increased to $110 million from a $25 million loss in the six months ended June 2016.
The cut in the rates comes just days after State Bank of India reduced its savings bank rate across the board to 3.5 per cent from 4 per cent.
Banks now publish an MCLR for different tenures overnight, 1 month, 3 months, and up to 3 years.
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