Bank of Maharashtra slashes retail loan rates by 25 bps
New Delhi: Bank of Maharashtra has announced reduction in lending rate linked to repo rate by 25 basis points in line with the RBI’s key policy rate. The bank’s repo-linked lending rate has now been reduced from 9.05 per cent to 8.80 per cent, BoM said in a statement on Monday. The RBI on Wednesday slashed key interest rates by 25 basis points for the second time in a row. The reduced rates will make loans more affordable and enhance the financial well-being of its customers, it said.
Govt frames draft rules for gas meters to protect consumers
New Delhi: The government has drafted new rules requiring testing, verification and stamping of all domestic, commercial & industrial gas meters before they can be used in trade, the Consumer Affairs Ministry said on Monday. The proposed regulations under the Legal Metrology (General) Rules, 2011 aim to ensure accuracy & reliability in gas measurement, preventing billing disputes and protecting consumers from faulty devices. The rules include provisions for re-verification of meters in use and establish a compliance framework for manufacturers and distribution firms aligned with International Organisation of Legal Metrology standards.