HDFC Bank has decided to cut
its benchmark lending rates (BLR) by 0.1% with effect from March 30, 2013
The base rate, or the minimum
lending rate, of India's second largest private sector bank will become 9.6 %
from the existing 9.7%.
At the same time, the
benchmark prime lending rate (BPLR) of the bank is expected to be slashed by
similar margin to 18.10 %.The new rates would be effective from March 30, 2013.
HDFC Bank has become the
first bank to cut lending rate after the RBI (Reserve Bank of India) cut the
short-term lending rate by 0.25 % on March 19, 2013.
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