"Axis Bank has revised its base rate from 10.15 percent per annum to 9.95 percent per annum," a bank statement said, adding that the cut is effective from April 13.
The Shikha Sharma-led bank has also cut its deposit rate offerings by 0.25 percent across multiple maturities, a senior official of the bank said.
After leaving the key rates unchanged on Tuesday, Rajan used strong words against the banks for not passing the benefits of RBI's twin rate cuts to borrowers and maintaining rates at a higher level.

He termed arguments of cost of funds for the lenders being high as "nonsense" and hoped that banks will fall in line. At the customary post-policy interaction with reporters, bankers had said that the base rate is a function of the deposit rates and will be cut once they go down.
However, within hours, banks led by the country's largest lender SBI and two biggest private sector lenders – ICICI Bank and HDFC Bank -- responded immediately with cuts of up to 0.25 percent in their base rates.

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