For Quick Alerts
For Daily Alerts

Lakshmi Vilas Bank Cuts Base Rate By 0.25 Per cent to 10.70 Per cent

By Super

Mumbai, Nov 2 (PTI) South-based lender Lakshmi Vilas Bank today lowered its base rate or the minimum rate of lending by 0.25 per cent to 10.70 per cent.

Lakshmi Vilas Bank Cuts Base Rate By 0.25 Per cent to 10.70 Per cent
Lakshmi Vilas Bank: Quotes, News
BSE 12.71BSE Quote0.66 (-5.19%)
NSE 12.65NSE Quote0.65 (-5.14%)

The rate reduction has been done following the Reserve Bank's surprise 0.50 per cent rate cut at the last policy announcement, the private player said in a statement.

A majority of the lenders have cut their offerings aggressively in an environment where credit growth is in the single digits, at multi-year lows.

At present, country's largest lender State Bank of India has the most aggressive posturing with a base rate at 9.30 per cent, followed by others like HDFC Bank and ICICI Bank.

While the banks have not passed the entire 1.25 per cent reduction in key rates effected by RBI this year citing a lag in repricing of deposits, they have said that interest rates are on the downward spiral.


Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more