ANSWER: Only 1
Explanation:
- Under base rate system, the individual bank is free to determine its own base rate.
- Bank is free to adopt a formula, as long as RBI feels it is consistent.
Banks have to publish the Base rate on their website.
- HDFC Bank, the country's second-largest private sector lender, has cut its base rate by 5 bps to 9.3% bringing its rate at par with State Bank of India.
