IndusInd Bank has increased its marginal cost of funds-based lending rate on overnight to one-year tenures by 10-15 basis points as of today, according to information on the lender’s website.
Read More: Four-Day Work Week: UK Employers Approve It in World’s Largest Trial, Details Here
The bank has not adjusted the interest rates for the two-year and three-year terms. Loan interest rates would vary from 8.95 to 10.15% after the modification.
Banks are required by Reserve Bank of India regulations to review their lending rates every month in light of the marginal cost of funds.
Read More: Gold Prices In India On February 22: Check Latest Rates In Delhi, Mumbai And Other Cities
The shares of the IndusInd Bank traded 1.7% lower at ₹1,083.55 on NSE, at 10:30 IST.
