Briefly Business: HDFC Bank cuts lending rate by 0.1%

HDFC Bank cuts lending rate by 0.1%

new delhi: HDFC Bank has decided to cut its benchmark lending rates by 0.1 per cent, making loans cheaper for its borrowers in the new year. The base rate, or the minimum lending rate, of HDFC Bank will become 9.7 per cent from the existing 9.8 per cent. The new rates would be effective from Monday, sources said.

Kingfisher crisis pushing up fares: CCI

new delhi: Suspension of flights by Kingfisher Airlines may be a possible reason for soaring airfares, although there is no evidence as yet of any price cartelisation among the carriers, the Competition Commission has said. "But the fact is none of them is making profits, so you cannot have a cartel," CCI Chairman Ashok Chawla said in an interview to PTI.

Egypt wants to talk on IMF loan

cairo: Egyptian Prime Minister Hisham Qandil has said that he wants to resume talks with the International Monetary Fund on a $4.8-billion loan frozen this month because of political tensions and unrest. "We have invited (the IMF) to resume talks during January," Qandil told a news conference.

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