NEW DELHI: ICICI Bank has revised the external benchmark lending rate (EBLR) to 8.10 per cent, and Bank of Baroda raised the rate to 6.90 per cent after the RBI hiked the key repo rate.
In an out of turn Monetary Committee Meeting (MPC), the Reserve Bank on Wednesday announced to hike the benchmark repo rate -- the short term lending rate it charges to banks -- by 0.40 per cent to 4.40 per cent with immediate effect, aimed at taming the rising inflation caused by the global geopolitical situation.
