Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: form 3cd :: articles on VAT and GST in India :: list of goods taxed at 4% :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: TDS :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ACCOUNTING STANDARD :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment
 
 
« General »
 Tax collection assumptions in India's budget ambitious
 All scrutiny cases, sans search, to be e-assessed
 Key tax changes that will come into effect from April 1
 Eight lakh companies on Income Tax department radar for not filing tax returns
 4 things a taxpayer shouldn’t miss
 Impact on LTCG will be more than 10 per cent
 Here's how much the tax reliefs you want will cost the finance minister
 Companies (Appointment and Qualification of Directors) Amendment Rules, 2018
 How young earners can claim HRA tax exemption with ease
 IT firms eye change in foreign tax credit rule
 The most thrilling idea before every Budget: No income tax

SBI hikes lending rate by 25 basis points; stock up
April, 20th 2011

The State Bank of India has made loans dearer by raising base rate by 25 basis points, ahead of RBI's annual monetary policy review on May 3, when the central bank may raise policy rates to rein in inflation that's well ahead of its forecast.

At 10:10 am, shares of SBI were trading 1.37% up at Rs 2776.05 on the Bombay Stock Exchange .

Other banks may follow the leader and keep raising rates for most part of the year as the central bank is likely to raise policy rates to curb demand that's far exceeding the ability of manufacturers to ramp up supply. Standard Chartered has doubled its policy rate increase forecast to 100 basis points this year.

A basis point is 0.01 percentage point. SBI's existing home loan borrowers, who are under the dual rate - or teaser rate scheme, are insulated from the rate hike as they pay fixed interest rate for the first three years of the loan. Following this decision, SBI's new base rate will be 8.50% from April 25.

It has also increased the benchmark prime lending rate by the same extent to 13.25% a year, from 13% now. Banks use the base rate as the benchmark for all loans since July 2010. Base rate is calculated by taking into account the cost of deposits and the cost of maintaining SLR and CRR.

Prior to the advent of the base rate regime, banks used to link lending rates to BPLR. The SBI move has fuelled market speculation that other banks may follow the banking leader immediately, but the likes of Bank of Baroda , Punjab National Bank and Union Bank of India ruled out such a possibility. "SBI was behind the curve. They have partially corrected this now," a senior bank executive said. Most other banks have their base rate at 9.5% while ICICI Bank has it at 8.75% a year.

Union Bank chairman MV Nair said his bank will take a call on interest rates after May 3. "We will wait for the RBI policy," he said. PNB chief KR Kamath said: "We are watching the market situation and will probably take a decision after the RBI policy. The regulator is expected to intensify its monetary squeezing policy by raising the key rates.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions