|Bid||137.60 x 0|
|Ask||137.70 x 0|
|Day's Range||136.80 - 139.40|
|52 Week Range||99.65 - 197.20|
|PE Ratio (TTM)||-9.28|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
A panel created by the Reserve Bank of India (RBI) said lenders are not sticking to rules that determine how much they can charge for loans, and proposed new requirements that could force banks to pass on interest rate moves to customers more quickly. The panel, set up to look into why commercial banks were not passing on the central bank's rate cuts, said in a report that banks "deviated in an ad hoc manner from the specified methodologies" for calculating their lending rates to avoid fully following the RBI's rate moves. The RBI has cut its policy rate by a total of 200 basis points from January 2015 to August 2017 to support economic growth, but to its frustration banks have lowered their lending rates by only about 120 bps.
A panel created by the Reserve Bank of India (RBI) has said lenders are not sticking to rules that determine how much they can charge for loans, and the sector must be compelled to re-assess lending rates. The five-member panel, set up by the RBI to look into why lenders were not passing on central bank rate cuts, said in a report on Wednesday that banks "deviated in an ad hoc manner from the specified methodologies" for calculating the lending rates in order to avoid passing on the RBI rate cuts. It suggested closer monitoring of how banks set their lending rates, while also suggesting a slew of technical changes intended to simplify the process of how banks go about determining how much to charge for loans.
The Reserve Bank of India (RBI) is expected its policy rate unchanged at a policy meeting this week despite a sharp slowdown in economic growth, after inflation surged to a five-month high, threatening the central bank's target. The RBI has made a priority of maintaining consumer inflation at around 4 percent - the midpoint of its mandated target of 2 to 6 percent -- having switched to a "neutral" policy stance from "accommodative" earlier this year. It is thus expected to react with concern after a surge in food prices boosted retail prices up 3.36 percent in August from a year earlier.