HDFC, India’s biggest housing finance institution, said on Saturday it would raise its retail prime lending rate on home loans by 30 basis points with effect from Monday, The Times of India reported, citing a stock exchange filing.
Almost all banks have linked their floating home loan rate to the Reserve Bank of India’s repo rate, the paper said. The central bank surprised markets on Wednesday by raising its main lending rate to contain rising inflation.
Read the full report: The Times of India