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Axis Bank, India’s third largest private sector bank, revised its Base Rate to 10.15 per cent per annum from 10.25 per cent per annum with effect from October 15, 2014.
The bank said the cost of funds has eased for the bank due to more liquidity with the bank which has helped reduce interest rates.
Accordingly, the effective rate applicable to loans linked to the bank’s Base Rate will reduce by 10 basis points, the bank said in a statement.
Sidharth Rath, President (Treasury, Business Banking & Capital Markets), Axis Bank said “The Bank has reduced the Base Rate by 10 bps, as the cost of fund has eased due to softening of interest rates based on improving liquidity and other macroeconomic developments."
Source : The Hindu
The bank said the cost of funds has eased for the bank due to more liquidity with the bank which has helped reduce interest rates.
Accordingly, the effective rate applicable to loans linked to the bank’s Base Rate will reduce by 10 basis points, the bank said in a statement.
Sidharth Rath, President (Treasury, Business Banking & Capital Markets), Axis Bank said “The Bank has reduced the Base Rate by 10 bps, as the cost of fund has eased due to softening of interest rates based on improving liquidity and other macroeconomic developments."
Source : The Hindu
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