Mmastodon BusinessPersonal Finance first seen 14 h ago, last 11 h ago, peak #4
Indian banks raise repo-linked lending rates after RBI hike
Original: Fast transmission in India: within a day of the RBI's 25 bps hike, PNB, Bank of India and IOB raised their repo-linked l
India's public sector banks moved quickly to pass on the Reserve Bank of India's 25 basis point rate hike. Within a day, Punjab National Bank, Bank of India and Indian Overseas Bank lifted their repo-linked lending rates to 8.35%, while Indian Bank moved to 8.20%, Bank of Baroda to 8.15% and Tamil Nadu Mercantile Bank to 8.50%. The swift transmission means higher EMIs for home, auto and personal loan borrowers, and signals banks are aligning loan pricing closely with the central bank's policy stance.
Why now: Borrowers are reacting to news that loan rates rose within a day of the RBI's policy hike, directly affecting their EMIs.
Reserve Bank of IndiaPunjab National BankBank of IndiaIndian Overseas BankBank of Baroda
Rank over time, top of the chart is #1. 3 snapshots from 14 h ago to 11 h ago.
Evidence
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