16 Jan 2015, 08:08 am
In a statement, Vinay Jain, CMD, AVJ Group said: "We are happy that RBI has taken cognizance of the plight of the sector by lowering repo rate. Home loans may get cheaper facilitating the buying decision of the consumers. The developer community now expects banks to pass on the advantage to end-users. RBI's policy is definitely a key to boosting real estate market sentiment and sending out positive signals to global investors."
With inflation showing signs of easing, the Reserve Bank of India (RBI) on Thursday reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 8.0 per cent to 7.75 per cent with immediate effect;
The RBI kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liabilities (NDTL).
Repo rate is the rate at which the central bank lends money to the commercial banks in the event of a shortfall of funds.
The RBI decided to continue to provide liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the LAF repo rate and liquidity under 7-day and 14-day term repos of up to 0.75 per cent of NDTL of the banking system through auctions; and continue with daily variable rate repos and reverse repos to smooth liquidity.
Consequently, the reverse repo rate under the LAF stands adjusted to 6.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 8.75 per cent with immediate effect.
- NEZ International Film Festival focuses on independent cinema in 9th edition, special focus on European filmmakers
- Deptt of Science and Technology funded Incubator at Sona College to spur entrepreneurship in Salem
- HireMee earns prestigious Global Impact sourcing award from IAOP, in partnership with The Rockefeller Foundation
- Embracing Robotic Surgery key to improving women’s disease treatments: Gynaecologists
- Sona College of Technology powers ISRO rocket that launched Insat-3DS weather satellite
- Vee Technologies named to Global Outsourcing 100 list by IAOP for 9th consecutive year
- NCVET recognises assessment firm HireMee as an Assessment Agency
- Smart India Hackathon 2023: Sona College of Technology student teams emerge winners
- Muskaan and Co-scholastic interactive workshop highlight wisdom of dohas and poetry to school students in New Delhi
- As India surges ahead in digital payments, US plays catch-up
Tokyo: Airlines were forced to cancel over 300 flights following the collision between a Japan Coast Guard aircraft and a Japan Airlines passenger plane at Tokyo's Haneda Airport on Tuesday evening even as reports said the plane was cleared to land ahead of the tragedy.
New Delhi/NITN: Regular flyers on Jazeera Airways, Kuwait’s low-cost carrier, can now avail a host of discounts and benefits by enrolling for the new membership club introduced by the airline, recently.
Gurugram: Air India, a global airline in India, has initiated the deployment of its recently acquired Boeing 777 aircraft to serve all three non-stop routes from Mumbai to the United States.