Tag Archives: Cuts

Bond investors seek clarity on future rate cuts & fiscal math

Bond investors will be focussed on what the Reserve Bank of India (RBI) governor Shaktikanta Das says on future rate cuts when the monetary policy committee (MPC) announces its rate decision on Friday. The corporate tax cut by the government and unchanged borrowing plan in the second half of the year has made dealers nervous on India’s fiscal position which could limit the central ... Read More »

State Bank Of India Cuts Lending Rate By 0.9% Across Maturities

Mumbai: State Bank of India, the country’s biggest lender by assets, said on Sunday it had cut its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits. After the move, its so-called overnight marginal cost of funds-based lending rate (MCLR) fell to 7.75 per cent from 8.65 per cent, ... Read More »

Axis Bank Cuts Lending Rates By Up To 0.15%

Mumbai: Country’s third largest private lender Axis Bank on Friday announced up to 0.15 per cent reduction in its lending rates, signalling a further downward trend in borrowing costs. The Ahmedabad-headquartered bank cut its overnight marginal cost of funding-based lending rate – the most competitive offering by rates – by 0.10 per cent to 8.55 per cent. The MCLRs for ... Read More »

Red Means Stop! Banking App Cuts Customer Spending

Traffic lights don’t just work for drivers, some bank customers obey them on their smartphones too. New York: Traffic lights don’t just work for drivers, some bank customers obey them on their smartphones too. A transaction-tracking app using red, yellow and green messages to warn account holders when they are paying out more or less than usual has resulted in ... Read More »

Samsung Cuts Profit by $2.3 Billion After Killing Galaxy Note 7

Samsung Electronics Co. cut its third-quarter operating profit outlook by $2.3 billion (roughly Rs. 15,375 crores) after ending production of its fire-prone Galaxy Note 7 smartphones, the first sign of how much the crisis will cost South Korea’s largest company. Profit will be KRW 5.2 trillion ($4.63 billion or roughly Rs. 30,953 crores) instead of KRW 7.8 trillion in the ... Read More »

Goldman Sachs Remains Bullish, But Cuts Nifty Target To 8,200

Global investment bank Goldman Sachs has reaffirmed its overweight stance on India, days after presentation of Union Budget 2016. However, the investment bank has revised its December Nifty target to 8,200 from 8,600 earlier. This still implies a 10 per cent upside from current Nifty levels of around 7,400. Goldman Sachs expects the upside in Nifty to be driven by ... Read More »

Microsoft Lays Off ‘Dozens’ as It Cuts Costs in Mobile Division: Report

Microsoft is reportedly laying off many of its employees related to its mobile division in multiple countries including Finland, in an attempt to cut costs. The report comes courtesy Finnish publication Helsigin Sanomat, which says that dozens of employees have been let go from the company. The report claims that the company is handing out pink slips to employees in ... Read More »