Axis Bank cuts base rate by 10 bps to 9.35%

NEW DELHI: Axis Bank has slashed its minimum lending rate by 10 basis points to 9.35%, with effect from July 27. The bank has also reduced the marginal cost of fund

NEW DELHI: Axis Bank has slashed its minimum lending rate by 10 basis points to 9.35%, with effect from July 27. The bank has also reduced the marginal cost of fund based lending (MCLR) by 0.05-0.1 percentage points for various maturities, from July 18. The bank’s shares ended 0.98% up on the BSE on Wednesday.

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