IDBI Bank raises interest rates on retail term deposit by up to 25 basis points

Earlier today, State Bank of India had also raised lending and deposit rates following the Reserve Bank's repo rate hike last week. SBI said interest rates have been raised by 0.20 per cent on domestic term deposits of below Rs 2 crore for select tenors. The Reserve Bank of India (RBI) had last week hiked the repo rate by 0.50 per cent to 4.90 per cent. Repo is the short term lending rate RBI charges to the banks.

from Banking/Finance-Industry-Economic Times https://ift.tt/roqVyga