Recently i received a call from one of my friend working in Pharmaceutical sector, he called me to inform that he got 6% salary hike & was quite delighted with this hike…After phone call i was wondering whether he really got a Salary Hike & the answer is big NO…You must be wondering, Why? Let me answer this but before answering let me ask 1 question..What is Inflation? 99% of people will answer that it’s a parameter or gauge to measure the rise in price of essential goods & services..Fair enough and it’s right also…I searched internet and got same definition almost every ... Read More
RBI cuts CRR or Cash Reserve Ratio – Home Loan borrowers Can Cheer
Whenever RBI reviews Monetary Policy, some financial jargon's hijack the headlines of all the business newspapers and TV channels. Recently, the top headline on all Business Channels was that RBI cuts CRR by 25 bps i.e. 0.25%. 1 bps equals to 0.01%. As a layman, many people don’t even understand what it means and what will be its impact on home loan borrower. The newspapers and TV channels don't take the pain to explain the exact impact. A very generic conclusion is that your loan interest rate will come down. It may or may not be true. What is CRR or Cash Reserve Ratio? In layman terms, ... Read More