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Axis Bank Increases Lending Rates by 5 bps
January 19, 2018
For the first time in the past three years, private sector Axis Bank has hiked its lending rates by 5 basis points for all maturity periods as per which 1-year tenure loans will attract a rate of 8.30%. The new rates will be effective from January 18.
The increase in the interest rate comes at a time when the government securities’ yields as well corporate bonds’ yields have also increased considerably. In Oct-Dec quarter, the 10-year yield had jumped by 70 bps which could lead to major losses for the banking sector.
