ICICI Bank Ltd.

Soon after the RBI reduced policy rates by 25 basis points, the country's largest private sector lender, ICICI Bank slashed the benchmark lending rate by 50 basis points to 16.25 per cent, at the same time, the bank also decided to reduce deposit rates by 25-50 basis points across various tenors. The bank has also reduced the floating reference rate by half a percentage point to 13.25 per cent. All the existing floating rate customers will benefit from the cut. Meanwhile, other banks including SBI and UCO bank have also hinted at revision in both lending and deposit rates in the coming days.