NEW DELHI: State-owned Bank of India (BoI) has introduced a hike in lending rate by 10 basis points, a transfer which can make loans, together with retail, costly. The lending rate enhance comes forward of the financial coverage announcement by the Reserve Bank of India on April 5.
The new rate can be efficient from April 1, BoI mentioned in a regulatory submitting on Saturday.
The financial institution has elevated the mark-up by 10 bps from the prevailing stage of two.75 per cent to 2.85 per cent, and with the current repo rate of 6.5 per cent, the repo-based lending rate (RBLR) can be 9.35 per cent, it mentioned.
Meanwhile, in a separate submitting, one other public sector lender Indian Bank has hiked the lending rate linked to base rate and Benchmark Prime Lending Rate by 5 basis points.
The new charges are efficient from April 3 within the case of the Indian Bank.(*10*)
The new rate can be efficient from April 1, BoI mentioned in a regulatory submitting on Saturday.
The financial institution has elevated the mark-up by 10 bps from the prevailing stage of two.75 per cent to 2.85 per cent, and with the current repo rate of 6.5 per cent, the repo-based lending rate (RBLR) can be 9.35 per cent, it mentioned.
Meanwhile, in a separate submitting, one other public sector lender Indian Bank has hiked the lending rate linked to base rate and Benchmark Prime Lending Rate by 5 basis points.
The new charges are efficient from April 3 within the case of the Indian Bank.(*10*)
