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Major News and Events of 01 April 2016

What Happened on 01 April 2016


Home Loan EMIs to be slashed from today

With India’s largest lender State Bank of India cutting down its home loan rate from 9.5% to 9.4% from today; the EMIs for the home loans have also fallen by over Rs. 300 for those who are availing a Rs. 50 lakh, 15-year loan. Just like SBI, even ICICI Bank has announced a one-year MCLR of 9.2% but it is yet to inform about the mark-up at which it will be providing the home loans.

Partial liquor ban in Bihar from today

A partial liquor ban has been imposed in Bihar from today after a notification issued by the state government. The state cabinet approved the Excise and Prohibition department’s proposal for issuing a notification for implementation of liquor ban in rural areas in addition to banning country-made and spiced liquor. Any person indulging in manufacturing, trade, transportation, sale and/or consumption of country-made and spiced liquor in Bihar would be punished for violating the provisions of the Bihar Excise (Amendment) Act, 2016.