Amid expectations of a softer rate cycle, several banks plan to raise the share of MCLR-linked loans to protect net interest margins from falling sharply when the RBI cuts the repo rate. This strategy aims to balance the impact while retaining customers.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.