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Journalism of Courage
HDFC Bank has decided to cut its benchmark lending rates by 10 basis points with effect from March 30.
The second largest private bank has become the first to cut lending rate after the RBI cut the short-term lending rate by 0.25 per cent on March 19.
The base rate,or the minimum lending rate,of the countrys second largest private sector bank will become 9.6 per cent from the existing 9.7 per cent. The benchmark prime lending rate (BPLR) of the bank is expected to be slashed by similar margin to 18.10 per cent. The new rates would be effective from March 30.
