HDFC Bank raises lending rates by 150 bps

MUMBAI: HDFC Bank said on Friday it had raised its benchmark lending rate by 150 basis points to 13 percent from 11.5 percent effective on Wednesday.   

The bank had also raised deposit rates by 50 to 75 basis points in recent weeks on various terms, the bank's spokesman said.   

Indian banks have been raising deposit and lending rates following a tightening of monetary policy by the central bank to control inflation.