Reserve Bank of India Governor Shaktikanta Das on Monday said the time had come to formalise the linking of lending rates on new loans to external benchmarks like the repo rate.
The Indian rupee opened lower at 71.51 per dollar on Tuesday against previous close 71.43 yesterday.
Finance Minister Nirmala Sitharaman on Monday said corporate tax rate for companies with over Rs 400 crore turnover will be gradually cut to 25 per cent and the government will support wealth creators.
The Reserve Bank of India (RBI) is considering asking banks to link loans to an external benchmark such as the repo rate to improve transmission of policy rates and foster economic growth, said central bank governor Shaktikanta Das.
New Delhi, Aug 19 (KNN) Public sector banks (PSBs) held a consultative and ideation process with their branch heads across the country over the weekend to identify the issues and challenges faced by branches and how to improve their performance.
Since the inception of Goods and Services Tax (GST), the main intention of the government was to have a robust system for allowing invoice level reconciliation of transactions. It was envisioned in the form of the returns- GSTR-2 and GSTR-3.