Syndicate Bank raises lending, deposit rates

MUMBAI, July 2 (Reuters) - State-run Syndicate Bank (SBNK.BO: ) has raised its prime lending rate by 50 basis points to 13.5 percent and deposits rates by up to 90 basis points across various maturities, a senior official said on Wednesday. The revisions are with immediate effect, the official said. The Manipal-based bank thus joined a clutch of other banks that have hiked rates after the central bank raised its key lending rate in an attempt to rein in inflation, which has hit 13-year highs. (Reporting by Kaustav Roy; Editing by Prem Udayabhanu) ((kaustav.roy@thomsonreuters.com; +91-22-6636-9056, Reuters Messaging: kaustav.roy.reuters.com@reuters.net)) Keywords: SYNDICATE RATES/ (C) Reuters 2008. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is... [read full story]