| || ||Thread Tools||Search this Thread|
|30th March 2007, 22:35||#1|
Join Date: Sep 2006
Thanked: 4 Times
Home, car loans to rise further; RBI hikes key lending rate
nterest rate on housing, vehicle and other consumer loans is likely to shoot up further, with Reserve Bank of India on Friday raising key short-term lending rate (repo*) by a quarter per cent as also increasing mandatory deposits by banks by 0.5 per cent to contain inflation.
Ahead of its annual monetary policy scheduled next month, the RBI in a sudden move hiked the repo rate and Cash Reserve Ratio** to 7.75 per cent and 6.5 per cent, respectively to suck out about Rs 19,500 crore (Rs 195 billion0 from the system.
The RBI move is a part of the stated policy by Finance Minister P Chidambaram that the government and apex bank would continue to take appropriate fiscal and monetary measures to control inflation, which is hovering at a high of 6.46 per cent.
Home, car loans to rise further
|2nd April 2007, 14:11||#2|
Senior - BHPian
Join Date: Aug 2006
Thanked: 2 Times
Looks like the government just wants to put a brake on the Indian automobile industry,first it just completely forgot about the industry in this years budget and now this rate hike.
No wonder automobile stock prices are heading southwards
|2nd April 2007, 14:51||#4|
Join Date: Jan 2007
|4th April 2007, 04:59||#5|
Senior - BHPian
Join Date: Jan 2006
Thanked: 49 Times
But it seems to be like that increase will be reverted after the current inflation rate is stabilised.
|Thread Tools||Search this Thread|
|Thread||Thread Starter||Forum||Replies||Last Post|
|Duplicate Keys, Remote Key OBD Programming : Key Master (Andheri, Mumbai)||frankmehta||Mumbai||30||24th June 2017 19:00|
|Good news: Pre-pay car & home loans without penalty||thedreamcatcher||Indian Car Loans & Insurance||17||24th December 2014 17:12|
|"King of Key" - Guess the car or bike from its key!||vrprabhu||Shifting gears||67||24th April 2010 18:16|
|New Rate Of Interest For Car Loans||balugita||Indian Car Loans & Insurance||28||17th August 2009 12:42|
|Choice of insurance company dictated by lending bank||Lukeskywalker||Indian Car Loans & Insurance||11||12th February 2007 18:27|