To check Oneindia News on your Mobile
go to:   http://m.oneindia.in/news/
 
  •  

Deregulation of interest rate is on our radar: RBI

 [IST]
Print This Page
Comment on This Article
A A A
RBI logo
New Delhi, Sep 8: Interest rates on savings account may soon be deregulated as Reserve Bank of India (RBI) will appoint a working group to verify the possibility of deregulation.

RBI Deputy Governor Usha Thorat said, "Deregulation of interest rate is on our radar. A working group will soon be set up to examine the possibility of deregulating of interest rates."

Thorat also stated that they will examine whether the de-regulation can help in getting more customer into the formal banking system.

Currently, interest on savings accounts is the only regulated rate in the banking system.

Looking at the high growth in credit in recent years, Thorat also advised banks to do more "forward looking provisions" to cover their non-performing assets (NPAs) whose increase is "inevitable" in the future.

OneIndia News
Topics: bank, banking, interest rate, rbi
Other articles published on September 8, 2010
Close
 

92 crore deposit refused by RBI in Rajasthan

Jaipur, Aug 7: Reserve Bank of India (RBI) rejected to accept the deposit of Rs 92 crore from three national banks as the deposit did not arrive the place at the right time on Friday, Aug 6.The van, carrying the wads.....
Read More

RBI monetary policy: Bank lending rates may go up

New Delhi, Jul 27: India's apex body for business and industry, Confederation of Indian Industry (CII) has raised concern over the fourth consecutive hike in key policy rates by the central bank fearing that it would translate into a hike.....
Read More

Strike paralyzes Indian banking sector on Sep 7

New Delhi, Sep 7: The banking sector of India has been partially affected by the all India strike, called by Trade Unions on Tuesday, Sep 7.The shut down through all over the nation affected the banks mainly in the areas, where.....
Read More

Now, Rs 1 crore needed to open SBI account

Hyderabad, Sep 3: Now the high networth individuals (HNIs) have to give only Rs 1 crore minimum to open an account in the government lender, State Bank of India (SBI).SBI has inaugurated first-of-its-kind branch for HNIs in Hyderabad on Sep 2.However,.....
Read More

75bps home loan interest rates cut by LIC

Mumbai, Dec 31: Mortgage lender LIC Housing Finance Ltd has cut interest rates by 75 basis points, effective Jan.1, for its existing home loan borrowers after a reduction in its cost of funds, LIC said on Wednesday, Dec 31.New customers would.....
Read More

Question Sonia in Bofors case: Fernandes

Monday, February 26, 2007,16:17 [IST]
New Delhi, Feb 26:  Describing the recovery agents employed by the Multinational Banks (MNBs) as thugs, hooligans and gangsters, the Supreme Court today held that this country is governed by the ''rule of law'' and the banks cannot employ goondas to take possession of property or vehicles by force.A bench comprising Justices A R Laxmanan and Altamas Kabir, while disposing of the petition of 75-year-old widow Prakash Kaur from Kanpur, described these recovery agents as modern day Shylocks who.....
Read More

ICICI to pump in Rs 500 cr for making Jaipur Northern hub

Friday, November 30, 2007,16:14 [IST]
Jaipur, Nov 30: Country's largest private sector bank ICICI today said it will invest Rs 500 crore in a phased manner to make the city its Northern hub which will accomodate about 20,000 people. ''We will invest Rs 500 crore to make Jaipur our Northern hub which will give employment to about 20,000 people,'' ICICI Managing Director and CEO K V Kamath told reporters at the two-day 'Resurgent Rajasthan-Partnership Summit' here. In the first phase, the bank will employee about 5,000.....
Read More
Connect with

Repo rate up 25 bps, reverse repo up by 50 bps

Mumbai, Jul 27: For the fourth time in 2010, the Reserve Bank of India (RBI) has hiked the key rates in its ongoing campaign to tame inflation.In its quarterly monetary policy review on Tuesday, Jul 27, the central bank hiked repo.....
Read More

Cisco and Wipro enter into strategic alliance

Wednesday, October 31, 2007,13:36 [IST]
Bangalore, Oct 31: Cisco Systems, Inc. the worldwide leader in networking for the Internet, and IT giant Wipro Ltd have entered into a strategic alliance to jointly develop and deliver Information Technology (IT) service solutions to help both companies meet their customers' needs, Under the agreement, Cisco and Wipro together would build new IT infrastructure service solutions that combine Cisco's industry-leading networking solutions with Wipro's infrastructure and managed services portfolio, according to a release here today. The companies also announced the establishment.....
Read More
User Comments
[ Post Comments ]
Be the first to comment on this article.
Oneindia  Oneindia Login
Gallery - Videos