IDBI hikes lending rates by 50 basis points

July 31st, 2008 - 10:25 pm ICT by IANS  

Mumbai, July 31 (IANS) IDBI Bank hiked lending rate by 50 basis points (bps) Thursday a few days after the Reserve Bank of India (RBI) raised cash reserve ratio and repo rate. The new benchmark prime lending rates (PLR) will go up to 14.25 percent from the existing 13.75 percent effective Friday.

Earlier this week, the central bank raised repo rates by 50 bps and cash reserve ratio by 25 bps.

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