Bank of America Merrill Lynch Economist Indranil Sen Gupta said in a report today that they were more confident that 2017 will see more lending rate cuts, which will cushion the hit from the demonetisation shock. SBI had cut lending rates by 0.90 per cent and ... Business Line, 2 months ago
In a minor reshuffle of the portfolios of her ministers, West Bengal Chief Minister Mamata Banerjee today brought back Indranil Sen as minister of state for information and cultural affairs (I&CA) department. Sen, who was shifted by Banerjee as her deputy in ...Business Standard, 1 month ago
While rate cuts may increase churn between banks, these may not boost credit offtake meaningfully. A telecom moment for the banking sector” was how a banking analyst with a reputed brokerage summed up the lending rate cut frenzy by banks. Though the Street was expecting some cuts (30-40 basis points) in the marginal cost of funds-based lending rate (MCLR), the sharp 90-bp cut by State Bank of India has taken many by surprise. Given that most banks have followed SBI’s lead, ...Rediff.com, 2 months ago
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