 "SBI to cut base lending rate by 15 bps")
State Bank of India (SBI), the nation's top lender by assets, said on Tuesday it will cut its base lending rate by 15 basis points to 9.7 percent, effective June 8.
The reduction follows a 25 basis point cut in the repo rate by the Reserve Bank of India on Tuesday, its third monetary easing this year.
SBI had previously cut the base lending rate by 15 bps on April 7.
ALSO READ: Allahabad Bank cuts lending rate by 0.3%