Bank of India (BOI), lender in the public sector, today precluded accompanying its companions for the time being, After biggest moneylender State Bank of India (Sbi) and second biggest private segment bank HDFC Bank hiked the minimum lending rate (base rate) VijayLaxshmi Iyer, Managing Director and Chairperson of the bank said that the risk management committee of the bank is still intervening in the matter. He further added that As of now there is no need to raise the base rate.
HDFC Bank which is the second largest bank in the private sector has hiked the minimum rate of lending by 20 base points to 10 percent. In the past two months, the Reserve Bank of India had hiked the repo rate by 25 base points in the policy review for the second quarter to 7.75, this was the second raise which took place on October 29
The rate of the marginal facility rate was brought down by the RBI by 25 base points. It has become 8.75 percent from 9 percent