Explained: Why your home and auto loan rates are set to go up despite RBI keeping repo rate unchanged
Moreover SBI had raised its fixed deposits rates in February to maintain its profit spread the increase in MCLR is a logical step
The raising of MCLR s primarily due to twofold factors emerging from the broad guidance of a lesser accommodative policy in future by the RBI and tweaking of the reverse repo rate.Given the kind of oil price fluctuations and a sharp rise in other commodity prices, immediate control of inflation is not seemingly possible and a rise in repo rate by RBI is expected soon. Moreover SBI had raised its fixed deposits rates in February to maintain its profit spread the increase in MCLR is a logical step," said yati Prakash Gadia, Managing Director, Resurgent India, an investment banking firm
Original Source: https://www.resurgentindia.com/
Original Source: https://www.resurgentindia.com/
- Contact Email
- [email protected]
- Issued By
- Resurgent India
- Phone
- 07840000667
- Business Address
- 903-906, 09th Floor, Tower C, Unitech Business Zone
- Country
- India
- Categories
- Banking · Finance · Services
- Last Updated
- May 5, 2022