With the RBI changing its monetary policy stance from ‘neutral’ to ‘calibrated tightening ‘, experts on Wednesday said that the central bank would go for another rate hike of up to 50 basis points in its upcoming December policy.
The next bi-monthly monetary policy is due on December 4.
Earlier in the day, the Reserve Bank of India raised its benchmark interest rate by 25 basis points to 5.50 per cent, its first increase in nearly four years, and signalled that further hikes could follow as rising inflation and a weakening currency prompt a policy pivot.
Anticipating the rate hike by the RBI, Bajaj Finance has raised interest rates on its fixed deposits by 15 to 40 basis points across all tenures from 12 to 60 months.
The revised rates take effect from October 7 and apply to both fresh deposits and renewals, Bajaj Finance said in a statement.
The biggest increase is on longer tenures, it said, adding, interest rates on deposits for 31 to 60 months rise by 35 basis points for regul
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