SBI is not increasing lending rates again

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Mumbai, Aug 25: State Bank of India (SBI) is not planning to increase its lending rate again within a near future, claimed SBI chairman OP Bhatt on Wednesday, Aug 25.

SBI hiked the benchmark lending rate by 50 basis points on Aug 16.

The state-run lender also hiked the rate to 12.25 per cent besides increasing fixed deposit rates by up to 150 basis points across various maturities.

Lending Rate is the rate at which financial institutes lend money. It constitutes the base from which banks lend money to the final customer. It covers the lending rates of USD, EUR, GBP, JPY, CHF and CAD.

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