After YES Bank it is ING Vysya Bank that has reacted to the hike in the policy rates of Reserve Bank of India. The Central Bank has raised both repo and reverse-repo rate by 50 basis points in order to bring soaring inflation rates under control.
After the revision the base rates of the lender now stands at 10.20% and it shall be applicable from 1st August. More banks are expected to raise their lending rates and join the league very soon.
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