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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
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