Country's second largest private lender, HDFC Bank has decided to reduce its benchmark lending rates by 0.1 per cent with effect from March 30th, 2013.
HDFC Bank's base rate or lending rate will become 9.6 per cent from the existing 9.7 per cent, official sources said.
However, the benchmark prime lending rate (BPLR) of the bank is expected to be slashed by similar margin to 18.10 per cent.
The new rates will come into force from March 30, 2013, sources added.
HDFC Bank has become the first bank to cut lending rate after the RBI cut the short-term lending rate by 0.25 per cent on March 19.