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The public sector lender raised its lending and deposit rates, along with increasing the rates on high-value housing loans, in response to RBI tightening norms for these advances.

 
 
The revision in base rate follows RBI's move to raise short-term lending (repo) and borrowing (reverse repo) rates in its September monetary review.
Western Union had in July announced the introduction of its account-based money transfer service, to be launched in early-2011.
The Reserve Bank of India has left it to the discretion of individual banks to levy their own rates for the services they provide.
Since last week, 11 banks including ICICI, HDFC, Punjab National Bank, IDBI Bank and Allahabad Bank have raised their base rates by up to 50 basis points.
 
 
Banks' base rate revision is due January next year. However, bankers say since a revision was implemented by all recently, another one is highly unlikely.
Credit growth, which has slowed down to 5.5 per cent year-on-year, is unlikely to reverse the Reserve Bank of India's move to raise key6 rates on Tuesday.
SBI is amongst the few lenders who did not increase its base rate after the Reserve Bank's mid-quarter policy review on September 16.
During the first five-months of the financial year, the total transactions carried out via credit cards increased 18.82 per cent to Rs 29,024.75 crore.
Since the announcement, as many as 25 banks, including State Bank of India, ICICI Bank, Punjab National Bank and Bank of Baroda, have already raised interest rates.
The country's largest private lender ICICI Bank is all set to increase the home loan interest rate by 25 basis points to 8.5 per cent from on Wednesday.
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