HDFC Bank, Bank of India cut MCLR rates by up to 15 bps
Posted on 7th November 2016 |
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| HDFC Bank cut its marginal cost of funds-based lending rates by 15 basis points across tenures, the bank said on its website. While Bank of India cut its MCLR rates for certain loan tenures by 10 bps, it said in a notification to the BSE. The revised rates are in the range of 8.70-9.05% for HDFC Bank, and have been made effective today. For the overnight tenor, HDFC Bank has cut the lending rate to 8.70%, for one month (8,75%) and three months (8,80%). For the six-month tenor, the bank has set the rate at 8,85%. For the one-year tenor, the lending rate has been cut to 8,90%, the two-year tenor is at 9.0%, and three-year tenor is at 9.05%. However, for Bank of India, the MCLR rates have been revised for overnight MCLR (9.0%), one-month MCLR (9.10%), three-month MCLR (9.10%), six-month MCLR (9.20%), and one-year MCLR (9,30%) tenor. The new rates will be effective from today. The Reserve Bank of India has instructed banks to revise their MCLR rates every month on the basis of the key repo rates and other costs. At 1321 hours, the shares of HDFC Bank were trading at Rs 1,242.60 apiece, down Rs 1.10 or 0.09% from previous day's close. The shares of Bank of India were trading at Rs 108.95, up Rs 2.50 or 2.35% from previous day's close. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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| Be the first person to write a business review for HDFC Bank, Bank of India cut MCLR rates by up to 15 bps |
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