Prospects of reduction in RBI lending interest rate by further 0,25%!
Posted on: 02/Feb/2015 5:38:40 PM
It is expected that the Reserve Bank of India (RBI) is likely to announce a reduction of 0.25% in the interest rate for the short-term loans given to the banks.
In a surprising move, RBI announced last month about the reduction in interest rates by 25 BPS (Basis Point BPS) after a detailed assessment of the country’s economy over the last 20 months.
This is likely to be made effective during the revaluation meeting of the 6th bi-monthly finance policy for the year 2014-15 scheduled on Tuesday, 3rd February.
The government has earned revenue of Rs. 24000 Crores through selling of shares of the Public Sector companies.
The commericial head of the Oriental Bank, Mr. Anemis Chauhan, has expressed hopes that the RBI Governor, Mr. Raghuram Rajan, will reduce the REPO interest rates by 0.25%.
