HDFC Bank to cut base rate by 10 bps - source

Source : REUTERS
Last Updated: Thu, Mar 28, 2013 12:23 hrs
A customer walks out of a HDFC Bank branch as another deposits a cheque at a counter in Mumbai

HDFC Bank, India's No.3 lender, will cut base rate by 10 basis points to 9.6 percent, effective March 30, a source familiar with the matter told Reuters.

The source did not want to be identified as the matter had not been made public yet.

Last week, the Reserve Bank of India lowered its benchmark policy rates by 25 basis points for the second time this year.

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