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Base rate is the minimum rate set by the Reserve Bank of India below which banks are not allowed to lend to its customers..
Statement Formation:
Current base rate of SBI ranges from 8.90% to 9.30%. Rates are revised every month..
In UK the interest rate set by the bank of england for leading to other banks used as the benchmark for intrest rates generally.
Base Rate is the minimum rate below which Bank’s are not permitted to lend barring certain exceptions.
Base rate is the minimum rate below which bank’s are not permitted to lend barring certain.
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