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YES Bank and Kotak Mahindra Bank has cut base rate by 25 bps

On Thursday, the Kotak Mahindra Bank and YES Bank has cut their base rate by 25 bps to 9.5 percent and 10.25 percent respectively.

From October 5, the reduced rates will come into effect.

Both the banks have lowered their base rate two days after the Reserve Bank Governor, Raghuram Rajan, cut repo rate by 50 bps.

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