AXBK withdraws the fixed-cum-floating rate home loan scheme that it introduced on Jan 6 – it offered a fixed 8.25% interest rate for the first two years; CBI CMD says that it has decided against raising lending rates even though the CRR rose by 75bps; The government reportedly decides not to take fresh initiatives to discuss M&As among PSU banks – based on RBI’s views and reservations from political quarters; Bankers reportedly indicate that the CRR hike will eventually be passed onto borrowers, but only upon a pick up in credit offtake; RBI Dy Gov. prods banks to extend teaser rates to existing borrowers also.
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