Axis Bank revises its Base Rate to 10.15% p. a.
Pune (Oct 16, 2014): Axis Bank, India’s third largest private sector bank, revised its Base Rate from 10.25% p.a. to 10.15% p.a. with effect from October 15, 2014.
Accordingly, the effective rate applicable to various fund based credit limits which are linked to the Bank’s Base Rate will reduce by 10 basis points.
Announcing the revision in rate Mr. Sidharth Rath, President (Treasury, Business Banking & Capital Markets), Axis Bank said “The Bank has reduced the Base Rate by 10 bps, as the cost of fund has eased due to softening of interest rates based on improving liquidity and other macroeconomic developments."