Banks to decide on lending rates after RBI's April 7 policy review: Bank of India

Bank of India Chairman VR Iyer on Wednesday said banks would prefer to defer any decision on lending rates until after the Reserve Bank of India (RBI) holds its monetary policy review on April 7.

RBI has cut its policy repo rate by 50 basis points since January, but only a few banks have lowered their base lending rates.

"Banks would prefer to wait for April policy before taking a decision on interest rates," said Iyer on the sidelines of a meeting between bankers and government officials.

"There is a possibility of 10-20 bps after the (April) policy," she added.

Bank of India's is India's third-largest lender by assets.

(Reuters)