Public sector lender Andhra Bank is looking to cut its base lending rate by March 2015 as tepid credit demand has weighed on banks that are flush with liquidity. Click here to follow our WhatsApp channel Andhra Bank had recently curtailed its deposit rate by 25 basis points (or 0.25 per cent). The bank had last revised its base rate from 10 per cent to 10.25 per cent on August 19, 2013.“We have already announced a cut in our deposit rate by 25 basis points. Ideally, a revision in base rate should follow in eight months. But we don’t think we can wait that longer. We may possibly announce a cut in base rate by March 2015. In any case, our base rate is amongst the lowest in the…
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Andhra Bank mulls cut in base lending rate by March 2015 | Banking News
