Rates, – Mar 2017

Rate – Current Rate, Past Trend

Last Updated 27th Mar 2017
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Interest Rates
  • decides its own PLR from time to time
  • The RBI or NHB do not mandate or decide the PLR of any NBFC or HFC. Since NBFC’s typically have a higher cost of raising funds and higher cost of operations than those of banks, mostly they tend to offer loans at higher interest rates compared to banks
  • Sometimes, NBFC’s may have different benchmark PLR’s by customer segment and by product. E.g., an NBFC may have one PLR for retail and another one for corporate
  • When pricing a loan, typically offers a discount to the PLR to arrive at its lending rate

Vs. RBI

  • RBI/ NHB require each NBFC/ HFC to set their own rate based on their cost of funds. So, decides its own base rate from time to time based
  • Note that the RBI/ NHB does not decide the rate

Changes in of

  • rate can be revised by periodically in line with changes in interest rates in the market

home loan interest rate and

  • Every floating rate loan sanctioned by is benchmarked to its rate
  • The applicable rate of interest on a floating rate loan will consist of two parts – the applicable and a spread or margin (which is typically negative in case of NBFC’s and HFC’s)
  • Your loan from will be repriced periodically depending upon change in . So, a home loan from will be repriced every time the of changes. Say, you take a loan at minus 6.75% spread when the is 16.25%. This loan will initially be priced at 9.50%. Whenever changes in rate, the applicable rate of interest will change correspondingly.

Past trend of vs RBI Repo Rate

Date
08th Feb 17: 0% repo none by RBI
07th Dec 16: 0% repo none by RBI
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
25th Jan 11: 0.25% repo hike by RBI
02nd Nov 10: 0.25% repo hike by RBI
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI

Vs. RBI Repo Rate Trend

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News - Mar 2017
24th Mar 17 SBI chief among Fortune’s top 50 greatest leaders of the world
Arundhati Bhattacharya, chief of India’s largest bank State bank of India has been ranked 26th by the popular Fortune magazine among top 50 greatest leaders in the world for being the symbol of transformation and inspiration. The magazine has stated that SBI’s chief has skillfully managed the bank through the ongoing battle of corporate bad loans and demonetization scheme. The list has been topped by the President of Baseball Operations at Chicago Cubs Theo Epstein followed by Jack Ma, Executive Chairman of Alibaba Group.
24th Mar 17 Oman India Joint Investment Fund exits stake in Kotak Mahindra Bank
Private equity fund Oman India Investment Fund has sold its business stake in Kotak Mahindra Bank for Rs. 120 crore. OJIF had got the stake after Kotak Mahindra Bank acquired the fund’s portfolio from ING Vysya Bank in 2015. As per bank sources, the fund was sponsored jointly by Oman’s sovereign wealth fund State Reserve Fund and State Bank of India and has a corpus of 100 million dollars.
24th Mar 17 PNB enters into one time settlement deal with Mawana Sugars Ltd for NPA debt
Punjab National Bank has entered into one time settlement deal with Mawana Sugars Ltd for clearing the NPA debt. As per bank sources, the company owes an outstanding business loan of Rs. 109 crores to the company which is now settled at a consolidated amount of Rs. 79 crores payable over 15 months without any interest.
24th Mar 17 Punjab National Bank launches new branch in Jammu district
PNB with its aim to spread across the rural areas has successfully inaugurated a new branch at Khour, the border town of Jammu. Chief official of the bank has assured the local population of the city to provide best banking services including the loan facilities including personal loans for agricultural and allied activities. With the new branch, the bank has reached to total of 105 branches in the state of Jammu and Kashmir.
24th Mar 17 Stocks of housing finance companies rise on subsidy to MIG’s home loan applicants
Share price of leading housing finance company PNB Housing Finance rise by 1.1 percent on NSE soon after the government issued guidelines of interest subsidy for middle income group (MIG) home loan applicants on 23rd March, 2017. As per the guidelines, potential home loan borrowers with an annual income of Rs. 6 to 18 lakhs can now avail the benefit of up to 4 percent interest subsidy on home loans for the loan amount of Rs. 12 lakhs and above.
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