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Largest Lender SBI Hikes Lending Rate by .02%

[New Delhi]SBI Hikes Lending Rate by .02%
Home, auto and other loans would become costlier as the country’s largest lender SBI Saturday increased its benchmark lending rates or MCLR by 0.2 per cent, a development followed by other lenders.
The new rates are effective from today.
State Bank of India (SBI) has increased the lending rate by 20 basis points across all tenors up to three years.
The rate hike by bank comes a month after the Reserve Bank of India (RBI) hiked benchmark lending rate called repo rate by 25 basis points to 6.5 per cent.