Central Bank of India, Bank of India lower base rate by 0.25 per cent

The reduction of the repo rate and the cash reserve ratio by the Reserve Bank of India has led to a sting of rate cuts across banks, both public and private, with Bank of India and Central Bank of India being the latest to trim rates.

Central Bank of India and Bank of India, both state-owned, today announced a 0.25 per cent cut in their base rate, the rate below which they can't lend. A reduction in the base rate is likely to reflect on the lending rates as well, though not necessarily in the same proportion.

The base rate for both banks now stands at 10.25 per cent.

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