Loans to get costlier, say bankers
By Vaibhav Aggarwal
Jul 27, 2011
Print    Email    RSS   

The sudden unexpected rate hike by regulator Reserve Bank of India has come as a 'shocker' for the economy. With policy rates getting raised by as much as 50 bps by the apex bank, retail loans are also bound to get costlier by atleast the same percentage.

"The hike is more than expected and it will push interest rates (lending and deposits) by up to 50 basis points," the Oriental Bank of Commerce Executive Director, Mr S.C. Sinha said.

The repo rate now stands at 8% while reverse repo rate stands at 7%.

Private sector lender Yes Bank has soon after responded by raising its lending rates by the same amount.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

This is how a bank lends money
Plan for your retirement
Glittering Ways of Investing in Gold
Carnival of Indian Personal Finance Blogs #6
Gold based financing; 'loan to buy gold...

effective love spells Get back your lover...
HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive