Axis Bank cuts base rate by 0.20% to 9.95%
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MUMBAI: Country's third-largest private sector lender Axis Bank today cut its base rate or the minimum rate of lending by 0.20 per cent to 9.95 per cent, following its larger peers who also cut their offerings yesterday after Reserve Bank governor Raghuram Rajan's hard talk.
"Axis Bank has revised its base rate from 10.15 per cent per annum to 9.95 per cent per annum," a bank statement said, adding that the cut is effective from April 13.
The Shikha Sharma-led bank has also cut its deposit rate offerings by 0.25 per cent across multiple maturities, a senior official of the bank said.
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