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Oriental Bank of Commerce has cut the lending rate by 0.1%

The state owned Oriental Bank of Commerce (OBC) has reduced the minimum lending rate-the base rate- by 0.1 percent to 9.90 percent on account of this move the borrowers of the bank will be benefited with lower EMIs.

OBC said in a statement, The bank has reduced base rate to 9.90 percent from 10 percent with effect from August 17.

All loans linked to the base rate will become cheaper by 0.1 percent with the reduction in the base rate.

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