HDFC Bank, ICICI Bank raise interest rates after RBI repo rate hike
HDFC Bank raises MCLRs by 35 bps across all tenors; ICICI Bank says EBLRs hiked by 50 bps to 8.60% per annum from June 8.
lending rates
June 2022
April 2022
February 2022
March 2021
SBI hikes MCLR by 10 bps; loans to be expensive
The revised one-year loan rate stands at 7.10%, while it's 7.30% and 7.40% for two and three years, respectively.
Budget 2022: Bank rate kept low to aid recovery
When RBI raises the rate, the bank's borrowing costs go up, which reduces money supply and checks inflation.
India to be the third largest economy by 2031: Report
According to a BofA Securities report, the Covid-19 shock could delay India touching the GDP of Japan by three years. In their latest estimates, it will now happen by 2031 if the economy grows at 9%.
