Indicating that banks would not be in a tearing hurry to jack-up their interest rates following the Reserve Bank of India hiking its key short-term rates by 0.25 per cent each, bankers said they felt that the move does not warrant any immediate action on their part.
The short-term lending (repo) rate now stands at 6.5 per cent and the borrowing (reverse repo) rate at 5.5 per cent after today's hike aimed at controlling high inflation.
The rate hikes do not immediately warrant a hike by banks in their lending and deposit rates, felt by the bankers.
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