The world's largest private sector lender, HDFC Bank and public sector lender Bank of Baroda increased the rates on their fixed deposits of under 2 crore by up to 25 bps and 40 bps respectively with effect from wednesday.
Friday, June 17, 2022
SBI increases lending rates; HDFC Bank, BoB deposit rates
After a week the RBI's 6 member monetary policy committee(MPC) increased the repo rate, the rate at which it lends commercial banks is 50 bps. SBI increased its marginal cost of funds based lending rate(MCLR)by 20 bps across all tenors ,with immediate effect.
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