HDFC Bank hikes key lending rates by 0.05-0.15%; should borrowers worry?
The RBI is widely expected to leave the repo rate - the key interest rate at which it lends money to commercial banks like HDFC Bank - unchanged at 6.5 per cent.
HDFC Bank MCLR hike: HDFC Bank – India’s largest private sector lender – on Wednesday increased its marginal cost-based lending rate (MCLR) by 0.05-0.15 per cent. The move comes a day ahead of the RBI is due to announce the outcome of its three-day, bi-monthly deliberations.
HDFC Bank's latest hike is applicable to maturities of overnight to six months, effective immediately. MCLR is the minimum interest rate below which a bank cannot lend money.
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