The State Bank of India (SBI) (SBIN.NS) (500112.BO) (OTC: SBKJY) has become the first bank in India to link its short-term loans and large savings deposits rates to the Reserve Bank of India's (RBI)
repo rate earlier this year, Business Today has reported online.
The Reserve Bank of India (RBI) in its third bi-monthly policy had reduced
repo rate by 35 basis points from 5.75 per cent to 5.4 per cent from August 7.
The Reserve Bank of India (RBI) has cut the
repo rate by 25 basis points to 6 per cent today.
In a late Friday decision, the bankannounced that it has linked interest rate on savings account with a balance above Rs100,000 and short-term loans to the Reserve Bank of India's
repo rate, effective from May 1.
Five out of the six-member Monetary Policy Committee (MPC) voted in favour of keeping the
repo rate unchanged at 6.50 percent and the reverse
repo rate at 6.25 percent.
The central bank increased its
repo rate, at which it lends to commercial banks, to 2.25 percentage points and its reverse
repo rate, at which commercial banks deposit money with the central bank, to 1.75 percentage points.
Hikes reverse
repo rate but leaves
repo rate unchanged to reduce gap
Abstract: This paper presents the empirical results of the volatility transmission of money market overnight
repo rate along the yield curve in Pakistan.
KARACHI -- THE State Bank of Pakistan has linked the minimum return on bank deposits with its
repo rate and set it at 50 basis points below the
repo rate, effective from October 1.
average monthly
repo rate made up 8.5%, having dropped by 0.3 pct points over Q2.
Cooling of interest rates should come as no surprise with wholesale price inflation easing to a 40-month low of 5.96% in March 2013, giving the Reserve Bank of India (RBI) leeway to reduce the
repo rate by 25 basis points (bps) to 7.25% at the beginning of May 2013.
