Banks hike home, auto loan costs

The interest rate cycle is changing in India even though the banking regulator has not raised its key policy rate yet.

Private sector lenders ICICI Bank Ltd and Kotak Mahindra Bank Ltd as well as the largest mortgage player, Housing Development Finance Corp. Ltd (HDFC), withdrew special home loan schemes on Thursday.

Other commercial banks such as Axis Bank Ltd, Union Bank of India, Canara Bank, Punjab National Bank,

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