RBI is expected to keep repo rate unchanged for a fifth straight monetary policy meeting on Wednesday. Photo: Aniruddha Chowdhury/MintMumbai:Indian lenders are raising interest rates even before any RBI action as the strongest loan demand in four years amid weak deposit growth pressures funding costs. State Bank of India, ICICI Bank Ltd and Punjab National Bank are among the nation’s biggest banks that increased their benchmark lending rates last week. The Reserve Bank of India (RBI), on the other hand, is expected to keep its key rate unchanged for a fifth straight meeting when it decides on policy Wednesday. RBI will hold its repo rate at 6% this week, according to 25 of 33 economists surveyed by Bloomberg.

Source: Mint June 04, 2018 09:56 UTC