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.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…..
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