Loans may become cheaper as RBI cuts repo rate for third time in a row - TOI


Loans may become cheaper as RBI cuts repo rate for third time in a row - TOI
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Thursday, June 6, 2019
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Dear all,

Your association is forwarding herewith articles published by the Times of India, New Delhi on dated 06.06.2019.

1.     Loans may become cheaper as RBI cuts repo rate for third time in a row

The Reserve Bank of India (RBI) on Thursday reduced repo rate by 25 basis points (bps) to 5.75 per cent. This is the third straight reduction in the rates in 2019. The move will likely bring down the loan EMIs (equated monthly instalments). The last time the Reserve Bank moved this quickly to lower rates was in 2013 to revive the moribund economy from growth rates that had slipped to a decade low.

RBI had reduced its repo rate — the rate at which it lends to banks — from 6.5 per cent to 6 per cent in two stages this year. The weighted average marginal cost lending rate of banks has, however, risen from 10.38 per cent in January to 10.42 per cent in April 2019.

Earlier, the repo rate was at 5.75 per cent in July 2010…. TO READ THE FULL ARTCLE PLEASE CLICK HERE..

2.     RBI removes charges on NEFT, RTGS transactions

The Reserve Bank of India (RBI) on Thursday decided to remove charges on RTGS (Real Time Gross Settlement System) and NEFT (National Electronic Funds Transfer) transactions…… TO READ THE FULL ARTCLE PLEASE CLICK HERE

Your association is also forwading herewith an article published by The Hindustan Business Lines on dated 04.06.2019.

1. No change in last date to file annual GST return: Finance Ministry

The Union Finance Ministry, on Tuesday, issued a detailed clarification on the annual return filing for the Goods & Services Tax (GST). The last date to file returns will continue as June 30….. TO READ THE FULL ARTCLE PLEASE CLICK HERE.

This is for your kind information.

Thanking you,
With regards,

For Silvassa Industries & Manufacturers Association,

Narendra Trivedi,
Secretary


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