Banks increase EBLRs by 190 bps in tandem with RBI's repo rate hike

All major banks have increased their external benchmark-based lending rates (EBLRs) by 190 basis points in tandem with the hike in the Reserve Bank's policy repo rate since May this year, though they have been slow in raising the deposit rates. The Reserve Bank has hiked the key short-term lending rate (repo) by 190 basis points in four tranches since May to contain inflation.

from Banking/Finance-Industry-Economic Times https://ift.tt/0rRQkJG