Bank of India hikes interest rates

August 7th, 2008 - 8:02 pm ICT by IANS  

Mumbai, Aug 7 (IANS) The state-owned Bank of India Thursday raised its lending rates by 75 basis points from the existing 13.25 percent to 14 percent. The new benchmark prime lending rate (PLR) will be effective from Aug 10.

Other banks and institutions that have increased PLR after the latest rate hikes by the Reserve Bank of India (RBI) include ICICI Bank, HDFC Bank, Punjab National Bank, Axis Bank, IDBI Bank, YES Bank, and Corporation Bank.

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