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The Bandhan Bank has further eased the micro lending rate by 60 basis points for bringing interest rate down to 19.9 percent with immediate effect.
According to a statement by the bank, it was committed to passing on the benefit of lower cost of resources to its customers at the bottom of the pyramid and for this, a further rate was reduced by 60 basis points.
Bandhan Bank, with the latest round of lending rate reduction, has pared its micro loan rate by 2.5 percent or 250 bps in three stages in less than 11 months since it started operations as a universal bank.
