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Axis bank cuts lending rates by upto 0.70% | ||||||||
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India's third largest private sector lender Axis Bank on Friday said it will reduce its lending rates by 0.65-0.70 per cent across various tenures from next Wednesday following similar move by other banks after a bulk infusion of liquidity arising from the demonetisation move. The first year Marginal Cost of funds Based Lending Rate (MCLR) stands at 8.25 per cent after the revision. The tenure of two and three years will attract 8.30 per cent and 8.35 per cent respectively. | ||||||||
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