Oriental Bank of Commerce cuts lending rate by 0.1%

State-owned Oriental Bank of Commerce (OBC) slashed minimum lending rate-the base rate-by 0.1 per cent to 9.90 per cent, a move which will lower EMIs for borrowers of the bank.

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