Only yesterday Reserve Bank of India revised the Repo and Reverse Repo rate by 50 basis points and the banks have already started responding to the hike. State owned IDBI Bank has announced hike in its lending and deposit rates.
The bank has hiked both the Base rate and BPLR by 50 basis points taking it to 10 percent and 14.50 percent respectively. It has also increase the deposit rates across various maturities with a maximum of 50 basis points.
The revised rates will be effective from 5th May.
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