mumbai home auto and corporate loans have to become more expensive as the reserve bank has raised key rates for the fourth time this fiscal bankers saidbanks need to pass on the hike to customers as their cost of funds has gone up indian overseas bank chairman and managing director m narendra saidi believe banks would wait till the monthend before taking a call on an interest rate hike he saidthe rbi has raised the shortterm lending repo rate by 25 basis points to 825 per cent and the shortterm borrowing reverse repo rate will move up by a similar percentage to 725 per centsubsequently the interest rate under the marginal standing facility an additional borrowing window for banks has gone up to 925 per cent from the earlier level of 9 per centthis is the 12th time since march 2010 that the rbi has raised key interest rates to check inflation which is currently ruling above 9 per centthe rate hike is on expected lines and would result in interest rates both deposit and lending going up oriental bank of commerce executive director s c sinha saidechoing similar views corporation bank chairman and managing director ramnath pradeep said banks will have to raise rates but when and how will be decided by individual banks depending on their asset liability conditionsaccording to punjab and sind bank executive director p k anand the impact of the policy rate hike will take effect with a time lagthe banks he said will maintain the current rates at least for the next 15 days and take a call on revising them after ascertaining credit demandearlier this week state bank of india chairman pratip chaudhuri had said if the rbi raised interest rates banks would have to pass on the increase to customers