Custom Search

Friday, February 25, 2011

HDFC Bank raises key lending rate by 45 bps

Reuters / Mumbai February 24, 2011, 10:02 IST

HDFC Bank Ltd, the country's third-largest lender, has raised its key lending rate, or the base rate, by 45 basis points with effect from Thursday.

The bank's new base rate will be at 8.20% per annum, HDFC Bank said in a statement on its website late on Wednesday.


ICICI Bank, India's No. 2 lender, said on Wednesday the bank would raise its base rate by 50 basis points to 8.75% per annum with effect from Thursday.
The Reserve Bank of India has raised rates seven times since mid-March last year to rein in high inflation.


Source: Business Standard

0 comments:

Post a Comment

Popular Posts

 
Desi Google | A2Z Famous Quotes | What's Cooking America | Joke Site