The revised rate will be applicable to new disbursements from June 18, the bank said in a statement.
PTI
@moneycontrolcom
Bandhan Bank on June 17 said it has slashed the interest rate on micro loans by 70 basis points to 17.95 per cent.
The revised rate will be applicable to new disbursements from June 18, the bank said in a statement.
In the last four years since it began operations as a bank, the lender has cut micro loan rates by 445 basis points or 4.45 per cent.
"I believe, with the reduction in micro loan interest rate, more people will find it affordable to borrow money and build sustainable livelihoods for themselves," Bandhan MD amd CEO Chandra Shekhar Ghosh said.
Bandhan Bank has a network of 998 branches and 481 ATMs across the country.
As on March 31, the bank's loan book stood at Rs 44,776 crore with deposits of Rs 43,232 crore.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.First Published on Jun 17, 2019 08:45 pm
