SBI increases lending rates; HDFC bank, Bank of Baroda deposit rates

The move follows RBI's 90-bp repo rate incraese in a little over a month.

• After MPC incraesed repo rates by 50 bps, SBI increased its Marginal Cost of Funds Based Lending Rates (MCLR) by 20 bps across all tenors.
• Country's largest private sector lender HDFC bank and country's largest public sector lender Bank of Baroda has increased rates on fixed deposits of under 2 Cr by upto 25bps and 40 bps respectively.
• SBI's MCLR stands now at 7.05 percent from 6.85 percent.