New Delhi, November 02: Public sector lender IDBI Bank hiked deposit and lending rates by up to 50 basis points today, hours after the RBI announced a slew of measures to tighten the monetary policy.
The bank also raised rates on high value housing loans in response to the RBI action to tighten norms for these advances.
However, other bankers said they will not raise interest rates immediately.
Interest rates on deposits across various maturities have been raised by 10-50 basis points, a senior IDBI Bank official told PTI.
At the same time, the Benchmark Prime Lending Rate (BPLR) has gone up by 25 basis points, he said.
The hike in BPLR would result in an at least 25 basis points increase in housing, car and corporate loans for existing customers.
–Agencies