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SBI reduces interest rates by up to 50 bps after RBI rate action

New Delhi, Jun 16 (PTI) The country’s biggest lender SBI (State Bank of India) has reduced its lending rate by 50 basis points following the Reserve Bank’s policy rate cut, making loans cheaper for both existing and new borrowers. With the latest round of reduction, the Repo Linked Lending Rate (RLLR) of SBI would come down by 50 basis points to 7.75 per cent. It has also reduced the External Benchmark Based Lending Rate (EBLR) by similar basis points to 8.15 per cent from 8.65 per cent earlier. The revised rates come into effect from June 15, 2025, according to

Iranian missiles hit Tel Aviv and Haifa, Israel warns of tough response

TEL AVIV/DUBAI/WASHINGTON (Reuters) -Iranian missiles struck Israel’s Tel Aviv and the port city of Haifa before dawn on Monday, killing at least eight people and destroying homes, prompting Israel’s defence minister to warn that Tehran residents would “pay the price and soon”. Iran said its parliament was preparing a bill to leave the Nuclear Non-Proliferation Treaty (NPT), adding that Tehran remains opposed to developing weapons of mass destruction. Passing the bill could take several weeks. Israel is presumed to have a sizable nuclear arsenal but neither confirms nor denies it. It is the only Middle East state that has not

Rupee rises 8 paise to close at 86.03 against US dollar

Mumbai, Jun 16 (PTI) The rupee rose 8 paise to 86.03 (provisional) against the US dollar on Monday amid a strong show at the domestic equity markets, weakening dollar, and easing of global crude oil prices. However, decline in exports, along with foreign fund outflows, capped further gains in the local unit, forex traders said. At the interbank foreign exchange, the local unit opened at 86.16 against the greenback and traded in the range of 85.94-86.24 before closing at 86.03 (provisional), up 8 paise from its previous close. The rupee had plummeted 59 paise to 86.11 against the US dollar

Sensex, Nifty rebound nearly 1 pc on value buying, global rally

Mumbai, Jun 16 (PTI) Benchmark stock indices Sensex and Nifty rebounded by nearly 1 per cent on Monday following value buying in IT and oil shares and a rally in global shares amid a drop in Brent crude oil prices. The 30-share BSE Sensex jumped 677.55 points or 0.84 per cent to settle at 81,796.15. During the day, it surged 747.22 points or 0.92 per cent to 81,865.82. The 50-share NSE Nifty climbed 227.90 points or 0.92 per cent to 24,946.50. Among 30 Sensex firms, UltraTech Cement, Tech Mahindra, HCL Tech, Tata Consultancy Services, Eternal, Asian Paints, Tata Steel and

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