Oriental Bank of Commerce lowers base rate by 0.05% to 9.45%

New Delhi: Public lender Oriental Bank of Commerce (OBC) on Friday announced a reduction of 0.05 percent in its base rate, or minimum lending rate, to 9.45 percent with effect from October 3.

"This is to inform that the bank has revised the base rate from 9.50 per cent per annum to 9.45 percent per annum with effect from 03.10.2017," Oriental Bank of Commerce said in a regulatory filing.

The stock was trading at Rs 120.50 on the BSE today, up 0.54 percent from its previous close.