NEW DELHI: Mortgage lender HDFC Ltd on Monday announced an increase in its benchmark lending rate by 25 basis points (bps), a move that will make loans dearer for both existing and new borrowers.
The move came after RBI on Friday raised the benchmark lending rate by 50 basis points to 5.40 per cent in its effort to cool down rising inflation. Following the rate hike, borrowing from the central bank has become costlier.
