Share Market Today: SBI Trims Base Rate
Posted On Thursday 31 January 2013 at at 11:30 by rishi gupta
SBI Trims
Base Rate
Central
Bank of India, RBI declare quarter monitory policy on 29 Jan in which RBI cut
CRR and Policy rate by 25 Basis points after coming this policy SBI come with
new policy. In which SBI trims base rate by 5 bps to 9.70%, it will be
effective on 4th Feb. Customers of SBI are happy because this
decision will make loans cheaper.
SBI had
last cut its base rate by 25 bps to 9.75% in September last year. The base rate
is the rate of interest below which bank can not lend to its customers. When
this policy of SBI effective than all the borrowers of SBI both existing and
new will benefit with lower rates. This show that SBI is the 3rd
bank to lower the base rates after the RBI announced rate cut on 29 Jan.
Nifty Recommendation for Today
Today,
currently Nifty traded on red signal at 6,047.80 with the changes of -8.45 (-0.09%).
Bajaj Auto Ltd., Bharat Heavy Electronics Ltd, Bharat Petroleum, DLF Ltd are Nifty
gainer of today. Sesa Goa, Tata Motars Ltd, Reliance Industry, HUL are Nifty
loser of today. All bank sectors are goes on green shade.
