India's HDFC Bank sets base rate at 7.25 pct

Indian private-sector lender HDFC Bank has fixed the base rate for loans at 7.25 per cent as part of a new rule that requires banks to set their minimum lending rates, Executive Director Paresh Sukthankar said on Wednesday

Indian private-sector lender HDFC Bank has fixed the base rate for loans at 7.25 per cent as part of a new rule that requires banks to set their minimum lending rates, Executive Director Paresh Sukthankar said on Wednesday.

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On Tuesday, State Bank of India, the nation's largest lender, set its base rate for loans at 7.5 per cent as part of the new rule that may raise rates for some borrowers.