India: Banks Raise Interest Rates

December 31st, 2010
in Background

The Times of India:  The country's largest private sector lender ICICI and two other banks on Friday raised their base rate, or minimum lending rate, by up to 75 basis points.

Follow up:

The revision will make corporate and consumer loans, including those for homes and auto, expensive for new borrowers.

Besides ICICI, private sector lenders Kotak Mahindra Bank and Dhanlaxmi Bank also increased base rates.

ICICI Bank has announced an increase of 0.5 per cent in the base rate with effect from January 3, 2011. The revised rate will be 8.25 per cent as against 7.75 per cent at present, the bank said in a statement.  Read more.....

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.

 navigate econintersect .com


Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved