BoB may cut lending rates soon

Bank of Baroda (BoB) is likely to cut lending rates soon. "We are considering a rate cut very seriously," Anil Khandelwal, chairman and managing director, BoB, told reporters today.

The bank's asset-liability committee (ALCO) was likely to meet on February 22, and a decision on a rate cut was likely to be taken at the meeting.

When asked whether the rate cut would be across-the-board or only in select segments, Khandelwal said the issue would be discussed before taking any decision.

He said the reduction could be in the range of 0.25-0.50%.

A number of banks, including State Bank of India,  have reduced their lending rates in the last 10 days.