IOB fixes base rate at 8.25%, Federal Bank at 7.75%

Indian Overseas Bank informed the Bombay Stock Exchange (BSE) today that as per the Reserve Bank of India directive, the Board of Directors of the bank have fixed the base rate at 8.25 per cent with effect from July 1.

Federal Bank informed BSE that in the bank's Assets and Liability Committee (ALCO) meeting held today, it was decided to fix the base rate at 7.75 per cent.