Some Banking & Financial Stocks in Focus: HDFC, IIFL Fin, Kotak Mahindra & More

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Some Banking & Financial Stocks in Focus: HDFC, IIFL Fin, Kotak Mahindra & More
Credit: © Reuters.

By Malvika Gurung

Investing.com -- HDFC (NS: HDFC ): The largest mortgage lender has hiked its Retail Prime Lending Rate for housing loans by 50 bps, coming under effect from June 10, 2022, after RBI raised the repo rate by 50 bps to 4.9% on June 8.

Kotak Mahindra Bank (NS: KTKM ): The private lender has announced a 0.5% rise in its savings account interest rate to 4% for deposits of over Rs 50 lakh, while term deposit rates have been hiked by up to 0.25%.

IIFL Fiinance (NS: IIFL ): The sovereign wealth fund Abu Dhabi Investment Authority will acquire a 20% stake in IIFL Home Finance for Rs 2,200 crore, making it the largest equity investment in India’s affordable housing finance sector.

Indian Overseas Bank (NS: IOBK ): The state-owned lender raised its repo linked lending rate by 50 bps to 7.75% w.e.f. June 10, 2022.

Shriram Transport (NS: SRTR ) Finance: The commercial banking company secured long-term funding of $250 million from the US International DFC.

ICICI Bank (NS: ICBK ): The leading private lender has raised its lending rates by 50 bps to 8.6%, post the central bank RBI’s repo rate hike.

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