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In its third rate cut this fiscal (20 bps in April and 10 bps in June), Axis Bank cut its base rate to 9.50 per cent from 9.85 per cent. “The new rate will be with effect from October 5, 2015″.

Axis Bank, private sector bank in India, announced that the bank has reduced its base rate by 35 basis points to 9.50% with effect from October 05, 2015. (The move could pave the way for a relook at the system of base rates – the floor lending rate for banks – and the...

Axis Bank, private sector bank in India, reduced its base rate by 35 basis points to 9.50% with effect from October 05, 2015.