Mortgage lender Dewan Housing Finance Corporation (DHFL) on Friday increased its retail prime lending rate (RPLR) by 25 basis points to 17.75 per cent.
A company spokesperson said the revised RPLR, below which it does not lend, stands at 17.75 per cent. The company had a loan portfolio of Rs 14,111.27 crore as of March 31, 2011.
Dewan Housing’s move to increase the lending rate comes in the wake of a hike in the reverse repo and repo rates by the RBI recently, a release issued by the lender said.
The move follows similar rate hike announcements by Corporation Bank, ING Vysya Bank and IndusInd Bank after the Reserve Bank tightened key rates by 25 basis points in its June 16 mid-quarter policy announcement.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.