IDBI Bank and Development Credit Bank (DCB) have announced a hike in their lending rates. Since, The Reserve Bank of India has announced a hike in the key rates, several lenders including Union Bank , Indian Overseas Bank ,Syndicate Bank and several others have already announced a raise in their lending rates and more banks are expected to hike their lending rates very soon.
IDBI Bank hiked Base Rate by 50 basis points or 0.50 percent to 9.50 percent and BPLR by 0.25 percent to 14 percent whereas DCB hiked both Base Rate and BPLR by 50 basis points to 9 percent and 16.25 percent respectively.
Public sector lender IDBI Bank has also announced a hike in the fixed deposit rates across various maturities.
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