Banks across India increase lending rates by 10 basis points

Ahead of RBI's key monetary policy committee meet, banks across the board have increased lending rates by 10 basis points making loans more dearer. SBI, HDFC, ICICI bank, Kotak Bank, Union Bank and PNB are among those who have hiked rates. SBI's lending rates one year have been increased to 8.25% while HDFC, PNB, ICICI have hiked one year lending rates to 8.40%.