HDFC cuts RPLR by 15 basis points

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Mumbai: Mortgage lender Housing Development Finance Corporation (HDFC) cut its retail prime lending rate (RPLR), the rate on which its adjustable rate home loans (ARHL) are benchmarked, by 15 basis points from April 22.

Such change will benefit all existing HDFC retail home loan customers.

Earlier in March, HDFC had cut its RPLR by 5 basis points, and by a similar quantum in January as well.

On April 17, the RBI announced a range of additional liquidity enhancing measures aimed at supporting credit flow to the economy. These measures included a 25 bps cut to its reverse repurchase (repo) rate to 3.75 per cent to lower the incentive for banks to park their surplus funds with the central bank.

The policy repo rate was left at 4.40 per cent.

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