News That Matters

Tag: reduces

Central Bank of India reduces repo-based lending rate by 25 bps

Central Bank of India reduces repo-based lending rate by 25 bps

Finance
The Central Bank of India announced Thursday that it has reduced the repo-based lending rate on its loans by 25 bps with effect October 10. According to a press release issued by the bank, the interest rate on housing loans (low risk category) stands reduced from 8.25 percent to 8 percent and for loans for medium and small enterprises it stands reduced to 8.95-9.50 percent from 9.2-9.75 percent. After the Reserve Bank of India cut the repo rate for the consecutive time this year on Friday, other banks too have followed suit and reduced interest rates on their loans. State Bank of India cut its marginal cost-based lending rate (MCLR) by 10 bps across all tenors, effective from October 10. The one-year MCLR would come down to 8.05 percent a year from 8.15 percent. This is the bank's sixth co...
Bajaj Housing Finance reduces home loan interest rates

Bajaj Housing Finance reduces home loan interest rates

Finance
Bajaj Housing Finance announced Monday that it was reduced home loan interest rates. A press release issued by the non-banking housing finance company (NBFC) stated that it has cut interest rates on home loan up to Rs 30 lakh to 8.6 percent from 8.8 percent. The revised rates would be effective from now and would apply to all eligible customers. The press release also stated that those borrowers planning for a home loan balance transfer will get this reduced rate. Bajaj Housing Finance offers home loans for up to Rs 3.5 crore for borrowers purchasing their first house, constructing an own house or renovating the current house. The company also offers its customers a top-up loan of up to Rs 50 lakh, without any extra documentation, to finance key requirements like repairs and renovation. Le...
Ethiopian Airlines crash: Boeing reduces 737 production

Ethiopian Airlines crash: Boeing reduces 737 production

Business
Media playback is unsupported on your device Boeing is temporarily cutting production of its best-selling 737 airliner in the continuing fall-out from crashes in Ethiopia and Indonesia. Production will drop from 52 planes a month to 42 from mid-April, Boeing has said in a statement. The decision is a response to a halt in deliveries of the 737 Max - the model involved in the two accidents. The plane is currently grounded as preliminary findings suggest its anti-stall system was at fault. An Ethiopian Airlines 737 Max crashed only minutes after take-off from Addis Ababa in March, killing all 157 people on board. The same type flown by the Indonesian airline Lion Air crashed into the sea only five months earlier, shortly after taking off from J...
Commercial agriculture reduces butterfly diversity by two-thirds

Commercial agriculture reduces butterfly diversity by two-thirds

Science
March 20 (UPI) -- Pollinators are on the decline. Bee numbers are steadily decreasing, and as new research out of Germany confirms, butterfly numbers are down, too. Scientists found the number of butterfly species in meadows next to commercial agriculture are two-thirds less than the number of butterfly species found in nature preserves. Researchers surveyed butterfly species in 21 meadow sites outside of Munich. Four of the sites were situated in nature preserves, while the remaining 17 were adjacent to areas featuring high-intensity agriculture. In total, scientists counted 864 individual butterflies, comprising 24 different species. Butterfly species considered generalists were found in both nature preserves and farm-adjacent meadows. Specialist species were less likely to be found ne...
Exposure to pesticides makes bees less social, reduces colony size

Exposure to pesticides makes bees less social, reduces colony size

Science
Nov. 9 (UPI) -- Exposure to pesticides can reduce the size of bee colonies and cause the insect to become less social. Researchers published those findings in the journal Science. A team of researchers, led by Harvard University's James Crall, used a robotic bench that allowed them to study the behavior patterns of as many as a dozen bee colonies at once. They observed that after pesticide exposure, bees spent less time nursing larvae and less time socializing with other bees. They also saw that exposure prevented the bees from building protective wax caps around their colony or warming the nest. "These pesticides first came into use around the mid-1990s, and are now the most commonly-used class of insecticide around the globe," Crall said in a press release. "Typically, they work throug...