Banks increase EBLRs by 190 bps in tandem with RBI's repo rate hike
2 years, 1 month ago

Banks increase EBLRs by 190 bps in tandem with RBI's repo rate hike

The Hindu  

All major banks have increased their external benchmark-based lending rates by 190 basis points in tandem with the hike in the Reserve Bank's policy repo rate since May this year, though they have been slow in raising the deposit rates. The RBI's Monetary Policy Committee, which makes recommendations to the central bank regarding interest rates, is set to meet again early next month amid expectations of another repo rate hike. By October-end 2022, banks have increased their EBLRs by 190 bps in tandem with the increase in the policy repo rate since May 2022, according to an RBI article. Across bank groups, the article said, transmission to lending and deposit rates of private sector banks has exceeded that of public sector banks in the current tightening period.

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