IDBI Bank unveils repo-based lending, bulk deposit rates
The IDBI Bank on Tuesday introduced repo-linked lending and bulk deposit rates, meeting the RBI deadline. The IDBI Bank has decided to adopt the Reserve Bank of India`s policy repo rate as an external benchmark.
The move follows the RBI directive that all banks should introduce external benchmark linked loans for retail, personal and micro, small and medium enterprises (MSME) borrowers from October 1. Reuters