Money & Banking

Oriental Bank of Commerce cuts base rate by 5 basis points

K.R. Srivats New Delhi | Updated on January 10, 2018

Oriental Bank of Commerce (OBC) has cut its base rate from 9.5 per cent to 9.45 per cent per annum.

The revised rate will come into effect from October 3, this public sector lender said in a filing with the stock exchanges.

Base rate is the interest rate below which a bank cannot lend. OBC had last cut its base rate in April this year when it brought down its base rate to 9.5 per cent.

Published on September 29, 2017

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