HDFC Bank hikes lending rates by 0.35%; 2nd hike in two months
The Hindu
The hike comes a day ahead of the RBI's scheduled policy review
The country's largest private sector lender HDFC Bank on Tuesday announced a 0.35% hike in lending rate.
The hike, which comes a day ahead of the RBI's scheduled policy review, is the second such move from the lender in as many months, taking the cumulative hike to up to 0.60%.
The RBI had surprised all with a 0.40% hike in key interest rates on May 4 to tame the inflation situation and is widely expected to follow up with further tightening of the policy on Wednesday.
HDFC Bank increased its Marginal Cost of funding based Lending Rate by 0.35% from June 7, as per the new rate structure published on its website.
The one-year MCLR, on which a bulk of consumer loans are pegged, will be 7.85% after the newest review as against 7.50% earlier.
The overnight MCLR will be 7.50% against 7.15%, while the three-year MCLR will be 8.05% compared to 7.70%.
It can be noted that the rate hikes come at a time when credit growth is not very high and banks are keen to accelerate on the same. There have been hikes in deposit rates as well, which have preceded the lending rate hikes, along with the change in the policy environment.
India imposes anti-dumping duties on Chinese steel and refrigerant gas to protect domestic industries from unfair pricing.
Sensex declines for the third day, losing 367 points due to foreign fund outflows and thin trading conditions.
Let’s take a look at some of the biggest crypto events of the year.
Silver futures soar to ₹2.32 lakh/kg as global prices exceed $75, marking a record high in commodities trading.
Stock markets decline as Sensex and Nifty fall amid foreign fund outflows and low trading volumes on December 26, 2025.
Rupee drops 23 paise to 89.94 against the dollar amid negative equity trends and rising crude prices.
The commencement of commercial flight from the Navi Mumbai International Airport (NMIA) is expected to speed up infrastructure and real estate development across Navi Mumbai and surrounding regions, analysts & industry executives said.
GCCs keep India’s tech job market alive, even as IT services industry embarks on a hiring moratorium
Global Capability Centres, offshore subsidiaries set up by multinational corporations, mostly known by an acronym GCCs, are now the primary engine sustaining India’s tech job market, contrasting sharply with the hiring slowdown witnessed by large firms in the country.
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.
Indian stock markets closed lower amid volatility, with key firms lagging as global trends influenced trading activity.