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Andhra Bank cuts base rate by 0.15% to 9.55% from Oct 1

Base rate is the minimum rate below which a bank cannot lend

Press Trust of India  |  New Delhi 

Representative image. Photo: Kamlesh Pednekar
Representative image. Photo: Kamlesh Pednekar

State owned on Wednesday said it has cut the base rate by 0.15 per cent to 9.55 per cent from October 1.

"The base rate of the has been revised from 9.70 per cent to 9.55 per cent with effect from October 1, 2017," the said in a regulatory filing.


Base rate is the minimum rate below which a cannot lend.

The benchmark prime lending (BMPLR) has been kept unchanged at 13.95 per cent. Benchmark prime is based on the credit worthiness of customers.

of the today closed 4.60 per cent down at Rs 56.05 apiece on

First Published: Wed, September 27 2017. 21:11 IST
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