YES Bank hikes prime lending rate, deposit rate by 50 bps

[K.Karthik Raja]

YES Bank hikes prime lending rate, deposit rate by 50 bps
Monday, Jun 16

MUMBAI - YES Bank today raised its prime lending rate and deposit
rate by 50 basis points, a company release said.
The private bank has raised rates on deposits with a tenure up to
18
months. Post hike, the rate on such deposits will be 9.50% per annum,
the
release said.
The new rates will be applicable to existing as well as new
customers.
YES Bank is the second bank to raise prime lending rates after the
Reserve Bank of India raised repo rate by 25 bps last week.
Jammu & Kashmir Bank had raised its PLR by 100 bps.
The country's largest lender, State Bank of India had also hinted
at a
hike in interest rates, though no decision was taken at its asset
liability
meeting Friday.
At 10:40AM, shares of YES Bank traded at 143.35 rupees on the
National
Stock Exchange, up 2.4% from close Friday.