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Interest rates set to go up; SBI hikes base rate by 10 bps


Bankers in India are unanimous that interest rates are on the way up and will only rise further as lenders respond to the higher cost of funds and a pick-up in economic activity.

State Bank of India (SBI), the country’s largest lender, raised its base rate effective Thursday in the first increase in a key rate in more than two years, up 10 basis points to 7.55%. It had been lowered by 5 basis points to 7.45% as recently as September 2021. One



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