HomeNewsBusinessCompaniesWhat prompted SBI to hike its lending rates sharply?

What prompted SBI to hike its lending rates sharply?

State Bank of India, the country's largest bank, surprised the market for the second time this financial year, by hiking its lending rates by 75 basis points. Most analysts were expecting the Big Daddy of the banking industry to up rates by 50 basis points.

May 11, 2011 / 22:41 IST

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Saikat Das
Moneycontrol.com

State Bank of India

first published: May 11, 2011 02:11 pm

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What prompted SBI to hike its lending rates sharply?

State Bank of India, the country's largest bank, surprised the market for the second time this financial year, by hiking its lending rates by 75 basis points. Most analysts were expecting the Big Daddy of the banking industry to up rates by 50 basis points.

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