Major public sector banks likely to increase lending rates soon

Major public sector bank s, like SBI , Bank of Baroda and Punjab National Bank , could possibly soon increase lending rates doing auto home and commercial loans expensive.

Approximately a dozen banks, such as private sector leader ICICIBank have previously hiked their lending-rate by 25 basis-points as a result tothe tightening of monetary-policy via the Reserve Bank last-month.

It’s a matter of time which other lenders would stick to the suit as value of fund has moved up after the 25 basis points raise of key policy rates through the Reserve Bank on June 16

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