Banks hiked lending rates 50-100bps

Both public sector banks and private sector banks have increased the lending interest rate after Reserve Bank of India(RBI)announcent on tuesday. all the banks were upset,already some of the banks results were down, in indian stock market bank sector went down continuously.some of the banks already increased the lending interest rates and someof them are reviewing and they are are going to announce the new revised lending interest rates on thursday(July31).Among public sector banks Punjob National Bank(PNB) increased rates by 1%(100bps)and among private sector banks Axis bank increased its interest rates by 1/2%.