Indian Bank cuts lending rate by 0.30%

Indian Bank cuts lending rate by 0.30 percent. Chennai headquartered Public sector lender Indian Bank on February 4, 2013 said it will cut its lending rate by 0.30% to 10.20% with effect from February 9, 2013.

The bank has decided to reduce its base rate by 0.30% from the existing 10.50% to 10.20%, with effect from February 9, 2013, a Indian Bank said in a statement.

It has also decided to cut its benchmark prime lending rate by 0.25%.

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