Loans & Finance
DHFL, one of India’s leading housing finance companies, today announced a reduction in its retail prime lending rate by 20 bps. DHFL has also reduced rates for its new customers and the rate will now start from 9.65%.
The rate cut by the RBI is on expected lines. RBI action is based on its belief that (i) despite CPI inflation rising over the next few months due to the reversal of base effect, it will remain well within its comfort zone, (ii) despite less than normal monsoon rainfall, risk from food inflation appears to be contained. However, the tepid global demand, soft commodity prices coupled with postponement of policy normalisation by the Fed provided RBI additional head room, and in stead of 25 bp cut it went for 50bp rate cut. Today’s action by RBI shows that if conditions permit RBI’s policy stance will continue to be accommodative.
Home Credit India Finance Pvt. Ltd., one of India’s fast-growing non-banking financial companies (NBFCs), aims to drive credit penetration by offering consumer finance to all. It has announced expansion plans targeting presence in 40 cities across the country by year end and. The company is a part of Home Credit B.V., an international consumer finance provider with operations in 10 countries across Europe and Asia.