ICICI cuts lending rates
ICICI Bank said on Thursday it was cutting its lending rates by 50 basis points from
The benchmark advance rate, or the rate that it charges its top customers, will drop to 15.75 percent from 16.25 percent.
It also cut rates for retail customers by 50 basis points. The bank had lowered lending rates by 50 basis points in late April.
Tags: Indian interest rates
June 12th, 2009 at 3:15 am
Many Indian banks have already reduced their lending interest rates to attract more customers but because of the job cuts, reduced salaries and uncertainty of jobs response is very slow. Yes, such steps will definitely help the big investors or business houses.