On Tuesday, the south based private sector lender Lakshmi Vilas Bank has cut its minimum rate of lending by 0.15 percent to 10.95 percent. It will be effective from July 1.

It is the second reduction by the bank in this fiscal, earlier the bank has cut its offering by 0.15 percent in April.

The managing director and chief executive of bank, Rakesh Sharma said, latest rate cut will boost investment sentiments, and will specifically help its retail, MSME and export customers.

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