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    Post RBI policy: Banks get into rate hike mode

    Two days after the annual credit policy announcement by the Reserve Bank of India (RBI), as many as seven banks raised hiked their lending rates. State-run Allahabad bank and Indian Bank are the latest ones to hike base rate and benchmark prime lending rates (BPLR) on Thursday by 50 basis points each to 10% and 14.25% respectively.
    May 05, 2011 / 17:43 IST

    Saikat Das
    Moneycontrol.com

    Banks have got into another round of interest rate hikes. Street expects this hikes to be the last of the hikes before interest rates start correcting.

    Two days after the annual credit policy announcement by the Reserve Bank of India (RBI), as many as seven banks have hiked their lending rates. State-run Allahabad bank and Indian Bank are the latest ones to hike base rate and benchmark prime lending rates (BPLR) on Thursday by 50 basis points each to 10% and 14.25% respectively.

    More banks are expected to follow suit.

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