Axis Bank to offer higher interest for locked in fixed deposits

Axis Bank, India’s third largest private sector bank has launched a Fixed Deposit scheme titled “Fixed Deposit Plus”, which gives customers a higher rate of return on their fixed deposit investment compared to regular Fixed Deposit rates. The differential rates on Fixed Deposit Plus with a lock in are currently available for a minimum period […]

SBI worried over weak demand, seeks rate cuts

State Bank of India, the country’s biggest bank has expressed concern over continuing weak demand in the economy due to “entrenched disinflationary impetus and weak demand,” and suggested that the RBI should cut key interest rates. While economic growth is moderately strong right now, it said, these factors will impact IIP (Index of Industrial Production) […]

RBI Monetary Policy: Corporates disappointed, Financials not surprised

Reserve Bank of India governor Raghuram Rajan today kept key interest rates unchanged, even as he reduced mandatory cash-reserve requirements for banks in an effort to make more money available for lending. The broad reaction from the market – whether from corporates or financial services industry – was that the development was on expected lines. […]

RBI likely to cut interest rates early next month: CARE Ratings

The Reserve Bank of India is very likely to start cutting India’s key interest rates early next month, CARE Ratings said after India’s December consumer inflation number came in at a manageable 5%. It was widely expected that the recent fall in consumer inflation could undergo some reversals in December and January, and the falling […]

HSBC PMI – rise continues, but inflationary pressures seen

The HSBC India Purchasing Managers’ Index (PMI) – a composite indicator designed to give an accurate overview of manufacturing operating conditions – reached a 21-month peak in November, the bank said. However, inflationary pressures intensified during the month, following three consecutive months of easing, HSBC said. “Among the surveyed sub-categories, the sharpest increase in purchase […]