India’s ICICI Bank cuts lending, deposit rates
HONG KONG (MarketWatch) — India’s ICICI Bank has cut its lending rates by a half percentage point and interest rates on retail fixed deposits by up to 0.75 percentage points, in the wake of similar moves by the private-sector lender’s state-owned peers. The bank slashed its prime lending rate to 16.75% from 17.25%. It has also cut its floating interest rates by a half-point to 13.75%, a move expected to benefit its home and auto loan customers.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
