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SBI Hikes Lending Rate To 8.15%

in DNDQuick

New Delhi: The State Bank of India on Thursday raised its lending rates by 20 basis points to 8.15 per cent, with immediate effect, setting the tone for the industry to follow suit. 

This is the first lending revision by the bank since April 2016 and comes a day after it massively raised the retail and bulk deposit rates.

Prior to this, the one year Marginal Cost of funds based Lending Rate, MCLR, on which most of the lending is based now, was at 7.95 per cent. 

The six-month MCLR has been raised by 10 basis points to 8 per cent, while the three-year loan pricing goes up by 25 basis points to 8.35 per cent.

Written by Khabar Bureau
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660

Venkaiah Pitches For Policing With Human Touch Needed To Bridge Trust Deficit

in DNDQuick

New Delhi: Vice-President M Venkaiah Naidu has stressed on the need for policing with a human touch as there was a serious trust deficit between the public and the police in the country.

Addressing Indian Police Service probationers of 70 RR (Regular Recruit -2017 Batch) at the SardarVallabhbhai Patel National Police Academy in Hyderabad, Naidu said, "There is a serious trust deficit between the public and the police in our country. Police are seen as the last option by the people. The general saying is that one is lucky if one is not required to visit a police station. Instead, police should emerge as the first option to go to in case of any problem."

Written by Khabar Bureau
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658

US Says It Closely Following China's Presidential Term Limit Move

in DNDQuick

New Delhi: The US has said it was closely watching China's ruling Communist Party's plans to abolish presidential term limits and asserted that strong institutions were more important than individual leaders.

"We have been following very closely what has happened in China and the response to Communist Party seeking to abolish term limits there," state department spokesperson Heather Nauert told reporters at her daily news conference.

"Strong institutions -- and this is another fundamental freedom of the US -- we believe that strong institutions are more important than individual leaders," she said.

Written by Khabar Bureau
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659

Political Stability Needed For Economic Growth: Pranab Mukherjee

in DNDQuick

New Delhi: Former President Pranab Mukherjee has said political stability is much needed for economic growthof the country and said that he was happy that after 30 years a single political party gained a majority in 2014.

"I do not mind which party gained majority, but I am happy. It brought stability," Mukherjee said. He was speaking at Calcutta Chamber of Commerce on economic growth prospects of the country.

Mukherjee said that in between 1989 and 1999 the country witnessed five LokSabha polls instead of the usual two LS polls. "People did not like this instability. These frequent changes were disliked by the voters as there was a weak government and for which a change was mandatory."

Written by Khabar Bureau
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531

Maldives Assails India, Not To Join Naval Exercise

in DNDQuick

New Delhi: Maldives has refused an Indian invitation to participate in a biennial multilateral naval exercise in the Indian Ocean, beginning on March 6.

"We have invited Maldives, but they declined it. They did not give any reasons but I think it is due to the current situation there," Indian Navy Chief Adm Sunil Lanba told journalists on the sidelines of an Indo-Pacific Maritime Dialogue jointly organized by the Indian Navy and National Maritime Foundation.

Questioned on the issue, Maldives ambassador Ahmed Mohamed said, "I would like to clarify that Maldives is unable to participate in the naval exercise during this time due to current circumstances of a state of emergency being in effect for those under investigation for serious crimes. During such a time, security personnel are expected to be at a heightened stance of readiness."

Written by Khabar Bureau
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