Repo rate is the rate at which banks borrow short term money from RBI. With effect from May 7, the city-headquartered lender had raised interest rates on term deposits in select buckets up to 0.60 per cent. A number of banks have already raise the repo-linked lending rates for their customers after the RBI rate hike. Some have also increased their deposit rates.from Banking/Finance-Industry-Economic Times https://ift.tt/jkhcXTR
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