Canara, Indian Bank trim home, vehicle loan rates
Canara, Indian Bank trim home, vehicle loan rates
NEW DELHI: Leading public sector lenders Canara and
Indian Bank
on Thursday lowered their
repo-linked lending rate
(RLLR) by 25 basis points in line with RBI making home and vehicle loans cheaper. Following the reduction, Indian Bank has cut its
home loan interest rates
from the existing 8.15% to 7.90% and
vehicle loan interest rates
from the existing 8.50% to 8.25%. With the RLLR reduction, the minimum rate of interest for all loans have been lowered,
Canara Bank
said in a statement. Their housing loan will now start at 7.90%.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
22 minutes ago
- The Hindu
Rupee dives 55 paise to close at 86.07 against U.S. dollar
The rupee plummeted 55 paise to 86.07 (provisional) against the U.S. dollar on Friday (June 13, 2025) due to a spike in global oil prices and a firm dollar amid rising tensions in the Middle East following Israel's attack on Iran's nuclear sites. Also read: Israel strikes Iran updates on June 13 Brent crude, the global oil benchmark, rose sharply by 7.27% to $74.40 per barrel in futures trade. At the interbank foreign exchange, the rupee opened at 86.25 against the greenback and traded in the range of 85.92-86.25 before closing at 86.07 (provisional), up 55 paise from its previous close. The local unit had settled at 85.52 on Thursday (June 12, 2025). Weak domestic equity markets and FII outflows further contributed to the fall in the local unit, forex traders said. 'The rupee fell to a low of 86.25 before recovering to 85.92 before ultimately closing at 86.07. It has taken one country's military strike on another to bring home the fragility of markets,' Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. 'RBI did support the rupee... oil prices were a concern as an increase of $10 increases trade deficit by $12 billion and CPI inflation by 50 bps,' he said. In the domestic equity market, the 30-share BSE Sensex tanked 573.38 points to settle at 81,118.60, while Nifty dropped 169.60 points to 24,718.60. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.33% to 98.24. Foreign institutional investors (FIIs) offloaded equities worth ₹3,831.42 crore on a net basis on Thursday (June 12, 2025), according to exchange data. 'FPIs continued to remain sellers of equity and buyers of U.S. dollars, while oil companies bought dollars on rising oil prices. Iran has closed its airspace, affecting our airline routes already hit by closure of the route by Pakistan. 'For Monday (June 16, 2025), we expect the rupee to trade in a similar range of 85.75-86.50 as we await India's trade deficit data to be released,' he added.
Economic Times
an hour ago
- Economic Times
Rupee slides on Israel-Iran conflict; central bank likely intervenes
The Indian rupee experienced its worst day in over a month, plummeting 0.6% to 86.08 per dollar following Israeli strikes on Iranian sites, which heightened risk aversion. The Reserve Bank of India intervened to curb losses as the rupee hit a two-month low. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Indian rupee posted its worst day in more than a month on Friday after Israeli strikes on Iran's nuclear and military sites hit risk sentiment, prompting the central bank to step in to limit rupee fell 0.6% to 86.08 per dollar at close, marking its biggest single-session fall since May 8. The currency, which slipped to a 2-month low of 86.20 earlier in the session, declined 0.5% Reserve Bank of India was on offers from 86.05 to 86.20 levels through the session, but the pressure on the local currency persisted, two traders said."Once the RBI intervened, there was a floor set for the rupee, and a large foreign bank began unwinding dollar long positions," said a trader with a private bank."RBI did support the rupee but did not make any effort to bring (the pair) down. We await further developments in the Middle East while trade issues are side-tracked for the moment," said Anil Bhansali, head of treasury at Finrex Treasury on Friday targeted Iran's nuclear facilities, ballistic missile factories and military commanders at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic strikes came amid mounting tensions over U.S. efforts to halt Iran's production of atomic bomb prices spiked, with Brent potentially headed for its biggest one-day rise in over three is a major component of India's import bill. A $10 barrel increase in crude can widen the current account deficit by up to 0.4% of GDP, economists estimate, and can add up to 35 basis points to headline retail inflation.
Time of India
an hour ago
- Time of India
Rupee slides on Israel-Iran conflict; central bank likely intervenes
The Indian rupee experienced its worst day in over a month, plummeting 0.6% to 86.08 per dollar following Israeli strikes on Iranian sites, which heightened risk aversion. The Reserve Bank of India intervened to curb losses as the rupee hit a two-month low. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Indian rupee posted its worst day in more than a month on Friday after Israeli strikes on Iran's nuclear and military sites hit risk sentiment, prompting the central bank to step in to limit rupee fell 0.6% to 86.08 per dollar at close, marking its biggest single-session fall since May 8. The currency, which slipped to a 2-month low of 86.20 earlier in the session, declined 0.5% Reserve Bank of India was on offers from 86.05 to 86.20 levels through the session, but the pressure on the local currency persisted, two traders said."Once the RBI intervened, there was a floor set for the rupee, and a large foreign bank began unwinding dollar long positions," said a trader with a private bank."RBI did support the rupee but did not make any effort to bring (the pair) down. We await further developments in the Middle East while trade issues are side-tracked for the moment," said Anil Bhansali, head of treasury at Finrex Treasury on Friday targeted Iran's nuclear facilities, ballistic missile factories and military commanders at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic strikes came amid mounting tensions over U.S. efforts to halt Iran's production of atomic bomb prices spiked, with Brent potentially headed for its biggest one-day rise in over three is a major component of India's import bill. A $10 barrel increase in crude can widen the current account deficit by up to 0.4% of GDP, economists estimate, and can add up to 35 basis points to headline retail inflation.
