DCB cuts base rate by 15 bps

Development Credit Bank (DCB) has announced a cut of 15 basis points in its base rate (or the minimum lending rate) to 10.70 per cent from 10.85 per cent. The private sector bank also said it has pared its erstwhile benchmark lending rate or the benchmark prime lending rate by 15 basis points to 17.95 per cent from 18.10 per cent. Both rate cuts are effective from December 14.