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The countrys largest private sector lender, ICICI Bank, does not see immediate pressure on interest rates, but expects them to rise from the second quarter (July-September) of next financial year due to increase in demand for credit. Now-RBI may not increase policy rates in April policy: Kamath-No pressure on interest rates over next 9 months: Kamath-'Consumption, investment will drive growth'-Banks to review teaser home loan plans in March-Bankers see huge challenges in next financial year-

The inflation rate has been rising gradually. With this rise, the fear of a hike in interest rates and tightening of the credit policy seem to beInflation coming true in the next few months.

LIC Housing Finance on Thursday said that it has cut interest rates for new customers.

SBI (State Bank of India) has snipped interest rates by 25-50 basis points on deposits up to 5 years time period. After several months, this is for second time that India’s biggest bank has snipped term deposit rates.

Five years ago, in November 2003, ICICI Bank was offering home loans at 7.5 per cent interest rate. That was the time when key policy rates of the Reserve Bank of India (RBI) were at low levels and there was comfortable liquidity in the system.

LIC Housing Finance , today announced a reduction in interest rates for its existing home loan borrowers.

As a part of the Government’ economic booster package, the RBI cut repo rates and reverse repo rates by 100 bps on Saturday, sending a strong signal to banks to cut rates and stimulate growth.
“Credit demand has been slackened. Banks will be urged to cut lending rates, which will come though reduction in deposit rates,” RBI Governor D Subbarao said.

Download Service Tax GAR7 Challans . Service Tax If a person who is liable to pay Service Tax fails to pay service tax, he shall pay in addition to such tax and interest in accordance with the provisions of Section 75 of the Act, a penalty which shall not be less than Rs.200/- for every day during which such failure continues or @2% of such tax per month, whichever is higher. However, the penalty amount payable shall not exceed the amount of Service Tax payable. (Refer to Section 76 of the Finance Act, 1994).