RBL Bank cuts lending rates

Mumbai: RBL Bank is the latest to reduce its lending rate. It has cut lending rates by as much as 35 basis points on various tenors across the board.

“This cut is just a function of the lower cost of funds which we have passed on to our customers. Rates have been coming down over the last one year and our rates have fallen by 70 to 80 basis points,” said a senior bank executive.