Banks take a cue from RBI, hike lending rates

These banks raised their respective external benchmark lending rates (EBLR) by 50 basis points (bps), matching the latest increase in the repo, or the rate at which RBI lends short-term funds to commercial banks. One basis point is 0.01 percentage point.

from Banking/Finance-Industry-Economic Times https://ift.tt/7N8Pd0I