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Private sector lender YES Bank has cut its base rate by 25 basis points (bps) to 10.50 per cent. The new rates are effective from June 22. Base rate is the benchmark rate to which all loan rates are linked.
The reduction in base rate follows the reduction in rate of term deposits across various tenors by 25 bps. Apart from YES Bank other lenders such as State Bank of India, HDFC Bank, Allahabad Bank, Federal Bank, Central Bank, IDBI and Punjab & Sind Bank, among others, have reduced the base rate this month.
