Banks Begin Raising Lending Rates After RBI Hikes Repo Rate By 25 Basis Points

New Delhi, Oct 7: Hours after RBI raised its benchmark policy rate, large banks such as Punjab National Bank, Indian Bank and Bank of Baroda announced an increase in their lending rates, making loans expensive for borrowers.The Reserve Bank of India raised its benchmark interest rate by 25 basis points to 5.50 per cent on Wednesday, its first increase in...