Rate hike by BoM likely in few days
By Joseph Samson
Sep 19, 2011
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Public sector lender Bank of Maharashtra is likely to opt for a hike in its lending rates following the recent policy rate hike by Reserve Bank of India.

Speaking on this issue, Mr A S Bhattacharya, CMD of the bank said, "When last time, the RBI hiked its policy rate on July 16, we did not go in for a hike.

"But, this time, since it is an increase of 25 basis points, we may hike our interest rates and pass it on to our customers."

The present base rate of the bank stands at 10.5%.

The rate hike is likely to come to effect from October 01, 2011.


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