Monday, 2 January 2017

Govt sops, cut in bank lending rates to boost economy

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The first half of 2017 will see more confidence in the market. The government’s recent sops for agri and housing sectors followed by banks cutting lending rates will boost the economy. More expenditure from the government is needed. The upcoming Budget could have more spends towards infrastructure. More banks are likely to follow the State Bank of India ’s lead and cut rates. The SBI slashed its marginal cost of lending rate by 90 basis points across all maturities. The sell-off by the Foreign Institutional Investors (FIIs) in last 3 months were due to Donald Trump winning the US elections. They will come back eventually.

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