Following RBI's decision to cut its repo rate by 50 basis points from 7.25 percent to 6.75 percent on Tuesday, many banks have decided to pass on the benefits to customers by cutting their base rates.
So far, nine banks both public and private including the largest lender of the country State Bank of India, have joined this club. The above chart provides with quick information on the new base rates of these banks.
Pannvalan had forecasted DA on August 31
On 31.08.2015, I had forecast that the anticipated hike in D.A. for November, 2015 is 3.00%. At that time, only the consumer price index for July, 2015 was out. Now, the index for August, 2015 has been published (only this morning - not yesterday, as per the advance release calendar). For July, 2015, the index was 263 and for August, 2015, it has touched 264. So, my forecast of 3% hike in D.A. for Nov.2015 may become true.
https://www.facebook.com/groups/5DAYBANKING/permalink/916205831787122/
However, let us remember that the Index for Sep.2015 will be known only on 30.10.2015. So, until then, this is only a forecast.
On 31.08.2015, I had forecast that the anticipated hike in D.A. for November, 2015 is 3.00%. At that time, only the consumer price index for July, 2015 was out. Now, the index for August, 2015 has been published (only this morning - not yesterday, as per the advance release calendar). For July, 2015, the index was 263 and for August, 2015, it has touched 264. So, my forecast of 3% hike in D.A. for Nov.2015 may become true.
https://www.facebook.com/groups/5DAYBANKING/permalink/916205831787122/
However, let us remember that the Index for Sep.2015 will be known only on 30.10.2015. So, until then, this is only a forecast.
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