Fixed Deposit Rates Falling But Still Extremely Attractive
After the Reserve Bank of India (RBI) India’s central bark embarked on an ambitious interest rate easing cycle since October, slashing official interest rates by 350 basis points, Fixed Deposit (FD) rates have begun falling.
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Largest Retail Bond Issue in Recent History Coming to Market
The Indian Infrastructure Finance Company (IIFCL) tax free bond issue which is coming to market shortly is set to become one of the largest ever bond issues open to retail participation in recent history.
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Bank Interest Rates Expected To Tumble Over Coming Months
State Owned banks are expecting to lower their lending rates even further in February. Currently benchmark prime lending rates of state owned banks range between 12 and 13.25 per cent and some public sector banks have cut their lending rates three times since the RBI started its interest rate easing cycle.
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SBI to Raise Over $ 1Billion Selling Long Term Bonds To Retail Investors
India’s largest financial institution, the state owned State Bank of India (SBI) has decided it will raise Rs 5000 crore or US$ 1.04 billion by issuing Upper Tier 2 Bonds to retail investors. SBI Chairman OP Bhatt announced the fund raising to reporters in Guwahati adding that it would be the first time in Indian banking history that bank would issue Tier 2 Bonds to individuals.
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