IDBI Bank cuts lending rate to 12.75 per cent
26 Jun 2009
The state-owned IDBI Bank Ltd said on Thursday it has cut its benchmark prime lending rate by 25 basis points or 0.25 per cent to 12.75 per cent, effective from 1 July.
The cut would apply to all loans linked to the benchmark lending rate, including home loans, it said in a statement.
Just a day earlier, India's largest lender State Bank of India had cut its benchmark prime lending rate by 0.50 per cent.