NEWS & ADVICE : CREDIT CARDS
Axis Bank increases the minimum lending rate
By Ankit Sharma
Aug 21, 2013
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The third leading private sector bank of India, the Axis bank, has increased the lowest lending rate from 10 percent to 10.25 percent. The new lending rate would come into effect from 19th August this year. Owing to the measures taken by the Reserve Bank of India to tighten the liquidity, other banks such as HDFC and YES banks also increased their base rate for short-period credits. The Reserve Bank of India had set aside the key policy rate unaffected in its initial financial policy assessment in July. However, its liquidity lessening actions taken in July has impacted the short-tenure rates.


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