Live
- A Guide to Temperature and Humidity Standards in Data Center Server Rooms
- Gadwal collector briefs on details of voters
- Jupally Krishna Rao takes part in Alampur rallu
- Bharath Prasad files 3rd Nomination
- Baisakh Month: A Time of Auspicious Beginnings and Sacred Festivals
- Oust BJD govt for overall development, says Shah
- Unveiling the Hidden Gems: Surprising Health Benefits of Garlic Peels
- Overcoming Sleep Struggles: A Comprehensive Guide to a Restful Night
- RTC bus hit the auto
- MLA Kuchukula Rajesh Reddy participated in the Birappa festival
SBI to adopt repo rate as external benchmark
State Bank of India on Monday said it will adopt repo rate as the external benchmark for all floating rate loans for MSME, home and retail loans, from October 1, 2019.
Mumbai: State Bank of India on Monday said it will adopt repo rate as the external benchmark for all floating rate loans for MSME, home and retail loans, from October 1, 2019.
On September 4, RBI had mandated all banks to link all new floating rate personal or retail loans and floating rate loans to micro, small and medium enterprises (MSMEs) to an external benchmark from October 1 onwards.
"We have decided to adopt repo rate as the external benchmark for all floating rate loans for MSME, housing and retail loans effective October 1, 2019," the bank said in a release.
The RBI gave the banks options to benchmark their floating rate loans either to repo rate, three-month or six-month treasury bills or any benchmark market interest rate published by Financial Benchmarks India Private (FBIL).
