PolicyBusiness Standard
Banks raise deposit rates after RBI repo hike
Positive+49
GreyOak summary
Following the RBI's 25-basis-point repo rate hike and inflation breaching 6%, major Indian banks raised fixed deposit and lending rates. State-owned Bank of Baroda and Federal Bank increased rates to 7.5% for select tenures. Private lenders like HDFC and ICICI also hiked rates, while several public sector banks raised their MCLR by 5-20 bps.
What it affects
- Financial ServicesPositive +49
Banks raised deposit and lending rates.Rolling sentiment Positive +29
- RBI policy rate and stanceNegative -49
RBI hiked repo rate by 25 bps.Rolling sentiment Negative -42
- RBI regulationPositive +49
RBI tightened monetary policy stance.Rolling sentiment Positive +33
