A basis point is one-hundredth of a percentage point. So, a 5 bps cut translates into a 0.05% reduction in the lending rate.

Even a 0.5% drop in the interest rate can bring noticeable relief. For example, if your ₹40 lakh loan is at 8.5% interest for ...

CS Setty, Chairman of State Bank of India, said the bank expects asset quality to remain stable, with credit costs holding at ...

MUMBAI: State Bank of India has reported a street-beating set of numbers with net income rising 12.5% on-year to Rs 19,160 crore in the June quarter, primarily ...

Major economies showed signs of slowing down, with global GDP growth at 3.3 per cent for year 2024. The geopolitical tensions ...