Axis Bank cuts benchmark lending rate by 0.5%

Axis Bank Ltd. | Bank - Private | BFSI | BSE: 532215 | NSE: AXISBANK

15 May 2009 Evaluate

India's third largest private sector lender Axis Bank has reduced its benchmark prime leading rate (BPLR) by 0.5 per cent from today. The bank's BPLR now stands reduced at 14.75 per cent. The rate cut came a day after Reserve Bank Governor, D Subbarao said banks have scope to further lower their lending rates. Recently SBI has reduced its deposit rates. With surplus liquidity in the system, banks have witnessed a steady decline in their cost of funds over the past few months.

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Peers

Company Name	CMP
HDFC Bank	708.00
ICICI Bank	1379.15
Axis Bank	1247.50
Kotak Mahindra Bank	418.70
Indusind Bank	977.80
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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
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