This shift comes with its challenges, notably high-interest rates that typically range between 10 per cent to 36 per cent per annum, depending on the borrower's credit history.
The government has decided to keep the interest rates unchanged for various small savings schemes for the second quarter of the financial year 2024-25, said the Ministry of Finance on Friday.
In its 49th MPC meeting held between June 5 and 7, it was decided to maintain the status quo on key interest rates, reflecting a balanced approach towards sustaining economic growth while keeping inflation in check.
While retaining its position as the fastest-growing large economy, India's real gross domestic product (GDP) growth will moderate to 6.8 per cent in fiscal 2025 from 8.2 per cent in fiscal 2024, CRISIL observed in its recent report, citing high interest rates and lower fiscal impulse.
Industry leaders and economists widely accepted RBI's monetary policy stand of no change in interest rates. Besides upward projection of GDP growth for FY25 from 7 per cent to 7.2 per cent is welcomed by the Industry.
The European Central Bank (ECB) cut the key interest rates for the first time in five years on Thursday. It reduced three key policy rates by 25 basis points (100 basis points is equal to 1 percentage point).
Mumbai (Maharashtra) [India], June 6: In the field of financial strategy, Fixed Deposit (FD) accounts present themselves as a steadfast and secure investment solution. The appeal of fixed returns and minimal risk positions them as the top choice for a considerable number of investors. An int
Pune (Maharashtra) [India], June 3: Bajaj Markets, one of India's leading digital marketplaces, has expanded its offerings to cater to the wanderlust of travel enthusiasts. It facilitates easy access to personal loans for travel, which can be helpful in planning a vacation, going on a busine
Faced with slow demand growth, high interest rates, and the rise in U.S. oil production, the group aims to support oil prices by managing supply tightly.
The government has been grappling with an unsustainably high fiscal deficit, averaging 7.3 per cent of economic output over the past five years, leading to a staggering national debt of PKR 78.9 trillion.
Pune (Maharashtra) [India], May 30: Bajaj Markets augments its education loan offerings through a partnership with HDFC Cedilla. This collaboration signifies a significant step in providing lending solutions tailored to the unique needs of students and their families, amplifying the choices
Pune (Maharashtra) [India], May 27: Bajaj Markets, a digital financial marketplace, has partnered with Shriram Finance to offer high-yielding Fixed Deposits (FDs) online. This partnership aims to provide customers a secure investment option, offering interest rates of up to 9.40 per cent p.a