HDFC Bank takes lead, cuts base rate by 10 basis points

In the first sign of relief for borrowers in a long time, HDFC Bank cut its base rate by 10 basis points on Thursday, bringing it down to 9.6%. The private sector lender’s base rate is now below that of State Bank of India (SBI) and ICICI Bank. The country’s second-largest private bank also trimmed the benchmark prime lending rate (BPLR) by 10 basis points to 18.10%.

Read Full Story>>