First, the good news. Inflation, or rise in prices, has a bloody nose from the pounding it’s been taking this year. While the Consumer Price Index (CPI) based inflation has dipped to 3.66% in August, the Wholesale Price Index (WPI) based inflation has plummeted to -4.95%. In fact, the WPI-based inflation has been floating in negative territory… Read More »
A recent press report said that more number of banks has hiked their lending and deposit rates, following the hike in key short term rates by the Reserve Bank of India. Bank of Maharashtra has hiked its base rate and benchmark prime lending rate by 25 basis points. The revised base rate is 10.5 per… Read More »
Private sector bank, Dhanalakshmi Bank has trimmed its deposit rates by up to 1 per cent across various maturities, a press release issued by the bank said. The new rates which will be effective from the 12th of October are as follows