The pricing of the loan, which has a tenor of three years, would be around 200 basis points above the Secured Overnight Financing Rate (SOFR), the UK-based bank told ET.
The RBI raised the repo rate by 250 basis points (bps) between May and February to 6.5%. In response, banks have raised the weighted average lending rate on fresh loans by 181 bps, before lowering it 23 bps in April, showed data from RBI
Mumbai: As expected, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), after three days of deliberation, on Thursday kept the repo rate unchanged at 6.5%.