NEWSLETTER, Tuesday 14th February 2023

RBI raises repo rate by 25 basis points to 6.50 per cent

Shaktikanta Das, Governor of the Reserve Bank of India (RBI), announced that the monetary policy committee (MPC) raised the repo rate by 25 basis points (bps) to 6.50 per cent and removed its accommodative stance to combat inflation.

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PNB and BOB hike lending rates by up to 25 basis

Punjab National Bank (PNB) and Bank of Baroda (BOB) have raised their lending rates by up to 25 basis points, following the Reserve Bank's interest rate hike earlier this week.

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South Indian Bank introduces wealth management platform, SIB Wealth

South Indian Bank, in collaboration with Geojit Financial Services, announces the launch of a wealth management platform.

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EkoTejas collaborates with financial institutions to provide financial support to EV users

EkoTejas recently announced a partnership with seven financial institutions including Bajaj Finance, TJSB Bank, Shriram Insurance, SBI Insurance, and Bajaj Allianz to assist customers in purchase of affordable 2 and 3 wheeler Electric Vehicles (EVs).

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Bank of Red Fort Capital lends Rs 8.25 Cr to MLL Engineers

MLL Engineers & Contractors, based in Navi Mumbai, borrows Rs 8.25 million from Red Fort Capital for working capital and business expansion.

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