The State Bank of India (SBI), recently announced a potential increase in its marginal cost of funds-based lending rates (MCLR) by another 10-15 basis points (bps). This comes on the heels of a recent 10 bps hike implemented on June 15. The move signals that MCLR rates, which influence the cost of corporate loans, have not yet reached their peak. Here’s an in-depth look at what … [Read more...] about SBI Indicates Another 10-15 Basis Points MCLR Hike: What It Means for Borrowers and the Economy
Banking News
State Bank of India Hikes Fixed Deposit Interest Rates
The State Bank of India (SBI), recently announced a welcome change for its customers: an increase in fixed deposit (FD) interest rates! This is good news for anyone looking for a safe and secure way to grow their money. Let's delve into the details and see if an SBI FD might be the right fit for you. What Changed? Effective May 15, 2024, SBI increased interest rates for … [Read more...] about State Bank of India Hikes Fixed Deposit Interest Rates
Full List Of Bank Holidays In January 2024
Having knowledge about bank holidays for any given month is a necessity if you want to perform banking tasks either regularly, or have plans for any occasion. Also, bank holidays are usually not widespread across all of the country except for the major holidays. Some bank holidays are in specific states/regions and hence if you are not aware of those holidays, your banking … [Read more...] about Full List Of Bank Holidays In January 2024
November 2023 Bank Holidays in India
November is a festive month in India, with many holidays celebrating various religious and cultural occasions. As a result, banks in India will be closed for several days in November 2023. Let's see the list of all bank holidays in India during November 2023, state-wise. Please note that this list is based on the latest information available from the Reserve Bank of India … [Read more...] about November 2023 Bank Holidays in India
Daily UPI Transaction Limits Set By Banks (SBI, ICICI, HDFC, Canara) And UPI Apps (Amazon Pay, GPay)
Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India (NPCI) facilitating inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. The interface is regulated by the Reserve Bank of India (RBI). UPI transaction limits are set by the NPCI and can vary depending on the bank and the type of … [Read more...] about Daily UPI Transaction Limits Set By Banks (SBI, ICICI, HDFC, Canara) And UPI Apps (Amazon Pay, GPay)