Banks will wait for RBI review before deciding on lending rates: Bank of India

BoI chairman says there is a possibility of 10-20 bps cut after the April policy

Banks would prefer to defer any decision on lending rates until after the RBI holds its monetary policy review on April 7, Bank of India Chairman V R Iyer told reporters on Wednesday.

"Banks would prefer to wait for April policy before taking a decision on interest rates," said Iyer on the sidelines of a meeting between bankers and government officials.

"There is a possibility of 10-20 bps cut after the (April) policy," she added.

Bank of India's is India's third-largest lender by assets.

The Reserve Bank of India has cut its policy repo rate by 50 basis points since January, but only a few banks have lowered their base lending rates.