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Indian Bank Lowers Repo-Based Lending Rate After RBI Decision

Indian Bank cut its repo-based lending rate by 35 basis points to 8.70%. The rate was earlier set by the bank at 9.05% before it was lowered.

Ann Jacob

Indian Bank cut its repo-based lending rate by 35 basis points to 8.70% (Photo: Envato) 

Indian Bank cut its repo-based lending rate by 35 basis points to 8.70%. The rate was earlier set by the bank at 9.05% before it was lowered, according to an exchange filing.

The rate was slashed after the Reserve Bank of India's Monetary Policy Committee lowered its benchmark lending rate.

Also Read: Home Loan Interest Rates 2025: A Quick Guide To Top Bank Offers

Indian Bank's move follows Bank of India, which lowered its repo-based lending rate by 25 basis points with effect from Wednesday.

Earlier in the day, the RBI's Monetary Policy Committee had decided to cut the repo rate by 25 bps, bringing it down to 6%, along with changing its stance from neutral to accommodative.

Shares of Indian Bank closed 3.67% lower at Rs 526.95 apiece on the National Stock Exchange before the announcement, compared to a 0.61% decline in the benchmark Nifty.

Also Read: Monetary Policy Key Highlights: 25 Basis-Point Repo Rate Cut, 'Accommodative' Stance, FY26 GDP Forecast

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Ann Jacob
Ann Jacob tracks markets with a special focus on personal finance. She clos... more
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