SBI associate bank State Bank of Bikaner and JaipurBSE 1.32 % has cut the minimum lending rate by 15 basis points to 9.95 per cent.
The base rate is 10.10 per cent and will be reduced to 9.95 per cent with effect from June 18, 2015, the bank said in a filing to BSE today.
The rate cut follows reduction in minimum lending rate by larger peers post RBI's second bi-monthly policy announcement earlier this month where the central bank lowered key policy rate for the third time this year.
The cut in rate will bring down cost of all loans linked with the base rate.
