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<keyword id="1404739" type="General" weightage="50" keywordseo="housing-development-finance-corp-ltd" source="Orion">Housing Development Finance Corp Ltd</keyword> hiked its benchmark lending rate by 25 basis points, with effect from August 1, the company said in an exchange filing. The hike in rate by the mortgage lender came before the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>'s (<keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>) monetary policy meeting, which is to be held between August 3 and August 5. "<keyword id="45123" type="General" weightage="80" keywordseo="hdfc" source="Orion">HDFC</keyword> increases its <keyword id="648146" type="General" weightage="50" keywordseo="retail-prime-lending-rate" source="Orion">Retail Prime Lending Rate</keyword> (<keyword id="413108" type="General" weightage="100" keywordseo="rplr" source="Orion">RPLR</keyword>) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 25 basis points, with effect from August 1, 2022," the exchange filing said. The revised rates for new borrowers will range between 7.80 per cent and 8.30 per cent, against the existing range of 7.55 per cent to 8.05 per cent. For existing customers, the rates will rise by 25 bps. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/uneven-rains-could-have-a-detrimental-impact-on-crop-production-and-inflation/articleshow/93228276.cms">Uneven rains could have a detrimental impact on crop production and inflation: Nomura report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/centuries-old-indian-stepwells-may-serve-as-a-solution-to-water-conservation-during-the-scorching-heat/articleshow/93212987.cms?utm_source=social_sticky_non_amp&amp;utm_medium=social_sharing&amp;utm_campaign=Click_through_social_share">Centuries-old Indian stepwells may serve as a solution to water conservation during the scorching heat</a>

HDFC hikes its benchmark lending rate by 25 basis points

<keyword id="640142" type="General" weightage="100" keywordseo="housing-finance-company" source="Orion">Housing Finance Company</keyword> HDFC has increased its Retail Prime Lending Rate (<keyword id="413108" type="General" weightage="50" keywordseo="rplr" source="Orion">RPLR</keyword>) on housing loans by 5 basis points. The revision would come into effect from Wednesday itself. The upward revision in rates will essentially lead to an increase in EMIs for borrowers. The hike in rates came close on the heels of central bank <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>'s recent hike in repo rate by 40 basis points, besides giving indications it would raise rates further in the upcoming monetary policy review meets. On Wednesday, <keyword id="62034" type="General" weightage="50" keywordseo="punjab-national-bank" source="Orion">Punjab National Bank</keyword> (<keyword id="47268" type="General" weightage="50" keywordseo="pnb" source="Orion">PNB</keyword>) too raised its marginal cost of funds-based lending rate by 15 basis points with immediate effect. Recently, banks such as <keyword id="13222" type="General" weightage="50" keywordseo="sbi" source="Orion">SBI</keyword> and <keyword id="6358007" type="General" weightage="50" keywordseo="bank-of-baroda" source="Orion">Bank of Baroda</keyword> too have hiked their lending rates across various tenures, as per reports. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/tech/mobile/news/moto-g82-5g-expected-to-launch-in-india-on-june-9-expected-price-specs-and-everything-you-need-to-know/articleshow/91919825.cms">Moto G82 5G expected to launch in India on June 9 – expected price, specs and everything you need to know</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/cryptocurrency/news/an-indian-home-can-live-for-a-year-with-the-energy-it-needs-to-mine-a-single-bitcoin/articleshow/91916128.cms">An Indian home can live for a year with the energy it needs to mine a single Bitcoin</a>

HDFC raises lending rates on housing loans by 5 basis points

The 25 basis points hike in key policy rate by <keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> is in line with expectations, and hopefully is the last in the current cycle of rate increase which started in May 2022 in view of rising inflation, opined industry bodies and experts. It was the sixth hike in a row, though the quantum was low. The central bank has cumulatively hiked repo rate by 250 basis points since May last year in a bid to contain rising inflation in the wake of global geopolitical tensions. "There is no doubt that moderating inflation in today's challenging global environment should be a priority for the RBI-Monetary Policy Committee and the RBI has done a commendable job with the result that the pace of price rise has reversed. "In line with the other broad objective of sustainable growth, we want to believe this is the last rate hike by the RBI," said Assocham Secretary General Deepak Sood. The RBI raised interest rate by 35 basis points in December 2022. It was hiked by 40 basis points in May and by 50 basis points each in June, August and September. Commenting on the RBI policy, Madan Sabnavis, Chief Economist, Bank of Baroda said the major takeaway is that there will be a prolonged pause for sure before any further action is taken by the RBI and will be data-driven. "Presently it looks like that there is an upside risk to the inflation number and hence a rate hike could be thought of later. A rate cut during the year looks more unlikely and can be on the cards only when there is a change in stance first," he added. <keyword id="15466055" type="General" weightage="50" keywordseo="saket-dalmia" source="Orion">Saket Dalmia</keyword>, President, PHDCCI opined that the continuous increase in repo rate will have impact on consumption demand and production possibilities in factories. "As inflation has been in a significant deceleration since the last many months, we look forward a pause in the policy rates," he added. The Reserve Bank has projected retail inflation to ease to 5.3 per cent in next fiscal from 6.5 per cent this year on assumptions of lower imported inflation, even though core inflation remains sticky. Experts also said repo rate is directly linked to loan rates offered by lenders so an increase in repo will increase the borrowing cost and vice-versa. "The rate hike of 25 bps today will make EMIs expensive by approximately 2-4 per cent. Borrowers will either have to shell out extra money to repay their loans or will have to extend the loan tenure," said <keyword id="2951021" type="General" weightage="50" keywordseo="v-swaminathan" source="Orion">V Swaminathan</keyword>, Executive Chairman, Andromeda Sales and Apnapaisa.com. Since May 2022, the repo rate has been increased by 250 basis points. So, the EMI for a 20-year home loan taken in May 2022 of Rs 70 lakh at 7 per cent was Rs 54,271, he explained. "But when we factor in the 250-bps hike since May, the interest rate becomes 9.50 per cent, increasing the EMI to Rs 65,249." <keyword id="11357847" type="General" weightage="50" keywordseo="radhavi-deshpande" source="Orion">Radhavi Deshpande</keyword>, President and Chief Investment Officer, Kotak Mahindra Life Insurance Company said having front loaded most of the rate hikes, incremental policy rate decisions will largely be data and global central bank stance related. Markets would settle for a longish pause here on than expect additional tightening and reversals in short period. "We expect 10 year G-Sec to hover around 7.25-4 per cent in the short term," Deshpande said. Bhavik <keyword id="1346781" type="General" weightage="50" keywordseo="thakkar" source="Orion">Thakkar</keyword>, CEO of Abans Investment Managers too said while this will increase cost of borrowing for all types of loan, the impact on home loan borrower this time could not just be extension of home loan tenor but higher EMIs also. One of the things home loan borrowers should do is ask their lender to increase spread (difference between MCLR/RPLR for home loan companies and home loan rates offered to borrower), Thakkar said. Sumita Pillai, Chief Executive Officer of Torus Private Wealth too said the RBI move was in line with expectation. "We expect the rate hike cycle to conclude as inflation has started showing signs of moderation and RBI has a clear focus on growth going forward," Pillai said. Meanwhile, Sandeep Bagla CEO, TRUST Mutual Fund said the market is a tad disappointed as there was no change in stance from "withdrawal of accommodation" to neutral. He further said market forecasters are expecting inflation to trend lower from RBI projections. The RBI will release the minutes of the six-member Monetary Policy Committee meeting on February 22, 2023. The next meeting of the MPC is scheduled for April 3-6, 2023. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbi-hikes-interest-rates-by-25-basis-points-to-6-5-says-core-inflation-remains-sticky/articleshow/97716217.cms">RBI hikes interest rate by 25 bps to 6.5%, says core inflation remains ‘sticky’</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-transmission-reports-78-rise-in-q3-net-profit-to-475-crore-on-one-time-income/articleshow/97650165.cms">Adani Transmission reports 78% rise in Q3 net profit to ₹475 crore on one-time income</a> <a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-q3-net-profit-jumps-91-to-1588-crore-misses-estimates/articleshow/97698481.cms">Bharti Airtel Q3 net profit jumps 91% to ₹1,588 crore, misses estimates</a>

Hopefully, this is last rate hike by RBI in current cycle: Industry, experts

New Delhi, Jun 12 () Leading mortgage lender HDFC on Friday slashed its lending rate by 20 basis points amid a gradual decline in cost of borrowing across the system. The move is in line with rate cuts by lenders like State Bank of India. "HDFC reduces its retail prime lending rate (RPLR) on housing loans, on which its adjustable rate home loans (ARHL) are benchmarked, by 20 basis points (bps), with effect from June 12, 2020," the company said in a statement. The change will benefit all existing HDFC retail home loan and non-home loan customers, it said. New rates will now range between 7.65-7.95 per cent for existing salaried home loan customers. Rates across the banking system have headed south in the last few months, as the Reserve Bank of India (RBI) and the government work in tandem to propel the slowing economy. The RBI last month cut the policy rate by 40 basis points to a historical low of 4 per cent to spur growth amid the COVID-19 crisis. DP ANS ANS

HDFC cuts lending rate by 20 basis points

New Delhi, Apr 21 () Leading mortgage lender HDFC on Tuesday slashed its lending rate by 15 basis points amid a gradual decline in cost of borrowing across the system.The move comes after a few lenders, including the country's biggest lender State Bank of India, trimmed their lending rate."HDFC reduces its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 15 basis points (bps), with effect from April 22, 2020," the company said in a statement.The change will benefit all existing HDFC retail home loan customers, it said.New rates will now range between 8.05-8.85 per cent.Rates across the banking system have headed south in the last few months, as the RBI and the government work in tandem to propel the slowing economy. The RBI last month cut the policy rate by 75 basis points to spur growth amid the COVID-19 crisis. DP ANUANU

HDFC cuts home loan rate by 15 bps

New Delhi, Jan 3 () In line with the country's largest lender SBI, HDFC Ltd on Friday reduced the benchmark lending rate by 0.05 per cent, a move that will bring down interest rate for existing as well new borrowers.
SBI earlier this week slashed in its external benchmark-based rate by 25 basis points to 7.80 per cent from 8.05 per cent.
"HDFC reduces its Retail Prime Lending Rate (RPLR) on housing loans, on which its adjustable rate home loans (ARHL) are benchmarked by 5 basis points with effect from January 6, 2020," the mortgage lender said in a statement.
New rates will now range between 8.20 per cent and 9 per cent, and the change will benefit all existing customers, it said.
The rate cut by lenders come despite the RBI keeping its benchmark repo rate unchanged at 5.15 per cent in December monetary policy review.
During the interaction with media after the announcement of monetary policy on December 5, RBI Governor Shaktikanta Das had said that although it is not in a hurry to keep reducing interest rates, the central bank would work to ensure that transmission turns more effective since much needs to be passed on.
While the RBI had cut repo rates by 135 bps in five policy reviews in 2019, the one-year median MCLR has declined by only 49 basis points. The weighted average lending rate (WALR) on fresh rupee loans sanctioned by banks declined by only 44 basis points. DP BAL

HDFC slashes home loan rate by 0.05 pc

<ul><li>The SGX Nifty was trading 0.67% lower at 7:45 am, indicating a subdued start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Despite positive cues from the western markets, the Indian equities may open on a cautious note on Tuesday. The SGX Nifty was trading 0.67% lower at 7:45 am, indicating a subdued start for Nifty50. However, the <a href="https://www.businessinsider.in/stock-market/news/dow-closes-835-points-higher-after-hitting-intraday-record-on-pfizer-vaccine-enthusiasm/articleshow/79139613.cms">U.S. stock markets soared on Monday</a>, the progress in the development of a COVID-19 vaccine was all that investors needed to hear to help propel stocks to hit new heights. The Dow Jones Industrial Average closed 835 points higher after hitting an intraday record on Pfizer vaccine news, and the S&amp;P 500 gained 1.17%. These are the stocks to watch out for during the trading session on November 10: Pfizer Limited <a href="https://www.businessinsider.in/science/health/news/pfizers-covid-19-vaccine-is-90-effective-in-preventing-coronavirus-in-those-who-havent-been-infected-ever-before/articleshow/79130097.cms">Pfizer says an early peek at its vaccine</a> data suggests that its shots prevented more than 90% of symptomatic infection, indicating the company is on track later this month to file an emergency use application with U.S. regulators. The shares of Pfizer Limited ended 0.19% higher on Monday. <keyword id="45123" type="CITY" weightage="20" keywordseo="HDFC">HDFC</keyword> Mortgage lender HDFC has reduced its retail prime lending rate (RPLR) on housing loans by 10 basis points (0.10%). The change will benefit all existing HDFC retail home loan customers, it added. The shares of HDFC ended 0.82% higher on Monday. <keyword id="281546" type="COMPANY" weightage="20" keywordseo="HFCL">HFCL</keyword> HFCL has received a letter of award worth ₹678.50 crore from L&amp;T for the supply of I.T. equipment, software solutions and associated equipment. The project is expected to be completed by April next year. The shares of HFCL ended flat on Monday. Tata Consultancy Services Tata Consultancy Services (<keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword>) and Deutsche Bank AG announced an agreement, under which TCS will acquire 100% shares of Postbank Systems AG (PBS) from the latter. PBS is the full-range captive I.T. service provider that provides project management, application management and infrastructure support services to Postbank and other subsidiaries of Deutsche Bank. PBS has around 1,500 employees and they will become a part of TCS after acquisition. The shares of Tata Consultancy Services ended 0.69% higher on Monday. Engineers India Engineers India board is slated to meet on November 12 to consider buyback of equity shares. The shares of Engineers India ended 0.59% lower on Monday. <keyword id="105311" type="COMPANY" weightage="20" keywordseo="INOX-Leisure">Inox Leisure</keyword> The cinema giant Inox Leisure has launched qualified institutional placement (QIP) at ₹263.1 per share. The floor price is set at a 1.42% discount to Monday’s closing price. The shares of Inox Leisure ended 0.53% higher on Monday. Oil India State-owned oil and gas explorer Oil India Ltd (OIL) on Monday reported a net profit of ₹238.95 crore during the second quarter compared to a net loss of ₹248.61 crore during the sequential quarter. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin reduced to 37.21% in Q2 from 43.39% in the same quarter last year. The shares of Oil India ended 0.69% higher on Monday. <keyword id="105485" type="COMPANY" weightage="20" keywordseo="GAIL-India">GAIL India</keyword>, Mahindra &amp; Mahindra, Hindalco Industries, Tata Power and GMR Infrastructure GAIL India, <a href="https://www.businessinsider.in/business/auto/news/mm-q2-earnings-tomorrow-profit-likely-to-fall-19-percent-but-tractor-sales-may-help-revenue/articleshow/79129620.cms">Mahindra &amp; Mahindra</a>, Hindalco Industries, Tata Power and GMR Infrastructure are the companies among others that are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/pfizers-covid-19-vaccine-is-90-effective-in-preventing-coronavirus-in-those-who-havent-been-infected-ever-before/articleshow/79130097.cms" data-type="tilCustomLink">Pfizer’s COVID-19 vaccine is 90% effective in preventing coronavirus in those who haven’t been infected ever before, shows data from latest trials</a> <a href="https://www.businessinsider.in/business/auto/news/mm-q2-earnings-tomorrow-profit-likely-to-fall-19-percent-but-tractor-sales-may-help-revenue/articleshow/79129620.cms" data-type="tilCustomLink">Strong tractor sales may cushion M&amp;M’s revenue but profit is likely to remain under pressure, say analysts</a>

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HDFC hikes its benchmark lending rate by 25 basis points

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HDFC raises lending rates on housing loans by 5 basis points

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Hopefully, this is last rate hike by RBI in current cycle: Industry, experts

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HDFC cuts lending rate by 20 basis points

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HDFC cuts home loan rate by 15 bps

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HDFC slashes home loan rate by 0.05 pc

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