Mumbai: HDFC Bank, the banking arm of the Housing Development Finance Corporation (HDFC), on Thursday said it would consider increasing the corporate lending rates, but would not hike the interest rate on retail loans.
"We don't see the retail lending rate moving up, but the corporate lending rate may see an increase as sub-PLR (prime lending rate) rates are very low,'' said Aditya Puri, managing director of the bank.
Talking to reporters after launching the HDFC Bank Corporate Credit Card in association with Mastercard International, Puri said since the sub-PLR rates are very low the bank would consider increasing the corporate lending rate, but would not touch retail lending rates.
He also observed that there should be a BPLR (base PLR) bench mark in the country as is the global practice. "Globally there is a benchmark retailer rate and that practice should be followed in India as well."
HDFC had increased deposit rates earlier this month.
Puri also said the bank would not issue any fresh shares domestically as well as internationally, but will keep raising Tier-II capital.
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