State Bank of Hyderabad (SBH) has increased its Benchmark Prime Lending Rate from 12.25 per cent to 12.75 per cent. The revised rate came into effect from August 17.
Meanwhile, Kotak Mahindra Bank has raised its benchmark prime lending rate by 25 basis points to 16 per cent. The hike will come into force with immediate effect. The bank has also increased its fixed deposit rates by 25 basis points in various retail buckets up to 1 year. This is the second round of deposit rate hike by the bank. It had raised deposit rates by 25-100 basis points across maturities earlier in the month.
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