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- SBI Research retains call for 50 - bps December rate hike amid broadening inflationary pressures
- RBI conducts ₹1 lakh cr Variable Rate Repo auction to push liquidity into banking system
The Reserve Bank of India (RBI) on Monday conducted a seven-day Variable Rate Repo (VRR) auction for ₹1 lakh crore, as surplus liquidity in the banking system fell substantially. Since August 6, the central bank had been absorbing liquidity through VRRR auctions to drain surplus generated by banks' FCNR(B) deposit mobilisation under a limited swap window (June 8 to August 31). Monday's seven-day VRRR auction drew bids of ₹1,50,735 crore against the notified ₹1 lakh crore and accepted ₹1,00,014 crore at a weighted average rate of 5.52%. As surplus shrinks towards a small deficit, the recent 25 basis-point repo rate hike is expected to transmit more effectively to deposit and lending rates. Average daily net absorption under the liquidity adjustment facility rose from ₹1.2 lakh crore in July to ₹7.8 lakh crore in September, and surplus stood at ₹1,85,873 crore as of October 18, 2026.
- Credit growth likely to see addition up to 2 % in the ongoing quarter , says PNB MD Chandra
Ashok Chandra, MD and CEO of Punjab National Bank (PNB), told BusinessLine that credit growth this quarter could add up to 2 percentage points to overall growth, with retail, agri and MSME lending expected to rise by at least 1–2% more. The bank used its entire FCNR(B) deposit pool, about $2.7 billion, to repay high-cost bulk deposits and certificates of deposit, lifting domestic NIM by 10 basis points and global NIM by 8 basis points in one quarter. He expects overall credit growth of 14–15% this quarter, with MSME growth of 21–22% and agri growth of 18–19%. Loan rates are repriced the next working day after any change, with about 7 basis points of benefit expected from the recent repo hike, while deposit rates are expected to stay elevated for now. PNB plans to raise around $1 billion via MTN and has board approval for about ₹10,000 crore of infrastructure bonds, with timing dependent on market conditions.
- SBI raises home loan rates by 25 bps : How much more will you pay every month ?
SBI's revised EBLR-linked rates took effect on October 15, 2026, with regular home loans now at 7.50% to 8.80%, Home Loan Maxgain at 8% to 9.30%, top-up loans at 8% to 10.75% and top-up overdrafts at 8.50% to 11.25%. An illustrative BankBazaar calculation, assuming a rate rise from 8% to 8.25% and 20 years remaining, shows the EMI on a ₹50 lakh loan rising by about ₹781 a month and on a ₹1 crore loan by about ₹1,563. Borrowers may keep their EMI and extend the tenure, or raise the EMI to keep the tenure unchanged; a constant EMI eases monthly cash flow but usually means paying more interest over time. Borrowers should confirm the revised rate, outstanding principal, remaining tenure and next reset date with the bank before deciding.
- Festive demand to drive PNB retail loan growth to 17 - 18 %, MSME credit to grow 21 %: MD Ashok Chandra
Punjab National Bank (PNB) expects core retail loan growth of 17–18% and MSME lending growth of about 21% in the current quarter, with the festive season supporting credit demand. Agriculture priority-sector lending is expected to keep growing at about 18%. The bank sanctioned ₹2.5 lakh crore in corporate loans in the first two quarters of the year, versus ₹4 lakh crore in the entire previous year, while shifting to higher-yielding loans, which lifted domestic and global net interest margins (NIM) by more than 10 and 8 basis points. MD & CEO Ashok Chandra said a recent 25-basis-point repo rate hike could add about 7 basis points to NIM, and the bank's ALCO will review lending and deposit rates in the coming months.
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