Bank of Baroda”s share increased following the lender’s decision to reduce its home loan rate by 40basis point
Shares of Bank of Baroda rose slightly in early trade on March 6 after the lender cut interest rates on home loans
State-owned Bank of Baroda (BoB) on Sunday cut lending rates by 40 basis points (bps) to 8.5% interest to beat latent competition. The bank reduced its interest rate on loans to MSMEs from 8.40%.
Both offers are active from March 5 and are valid for a limited period until March 31, BoB said in a statement. As of 9:34 am, Bank of Baroda shares were trading at 174.75 rupees, up 1.80 rupees, or 1.04%. to withdraw from lending to MSMEs, he said.
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