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    HomeNewsBusinessIndian Overseas Bank cuts base rate to 9.35%

    Indian Overseas Bank cuts base rate to 9.35%

    "The asset lability management committee of our bank decided to reduce the base rate to 9.35 percent from the existing 9.45 percent, effective from August 10, 2020," IOB said in a regulatory filing.

    PTI
    August 07, 2020 / 15:31 IST

    State-owned Indian Overseas Bank (IOB) on Friday said it has slashed its base rate by 0.10 percent to 9.35 percent.

    "The asset lability management committee of our bank decided to reduce the base rate to 9.35 percent from the existing 9.45 percent, effective from August 10, 2020," IOB said in a regulatory filing.

    Base rate is the minimum below which a bank can't lend to its customers.

    Shares of IOB traded at Rs 10.36 apiece on the BSE, up 0.39 percent from their previous close.

    PTI
    first published: Aug 7, 2020 02:52 pm

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