NEW DELHI, Oct 5:

Country's largest mortgagelender HDFC and four otherlenders, including Canara Bankand StanChart, cut their baserates by up to 0.25 per cent, amove that will make home, autoand other loans cheaper.

The effective home loan ratefor new customers will be 9.65per cent, while for women bor-rowers, it will be 9.60 per cent,HDFC said in a statement.

The existing rate for new cus-tomers is 9.9 per cent, whereas forwomen, it's 9.85 per cent.

This reduction, effectivetomorrow, will benefit all cus-tomers, it added.

The rate cut has been trig-gered by the Reserve Bankrevising downwards its bench-mark short-term lending (repo)rate by 0.50 per cent in its fourthbi-monthly monetary policyreview last week.

Canara Bank and StandardChartered also lowered bench-mark lending rates by 0.25 percent.

In a filing to BSE, CanaraBank said: "The Board of thebank has approved reduction in

the base rate by 25 bps from9.90 per cent to 9.65 per cent forloans/advances, effectiveOctober 7, 2015."

Standard Chartered, in a state-ment, announced the reduction of0.25 per cent in its base rate to 9.5per cent from the current level of9.75 per cent effective today.

Corporation Bank said it hasrevised the base rate for lendingto 9.7 per cent from 9.9 per centfrom October 8.

Infrastructure financierIIFCL also announced a down-ward revision in its benchmarkrate by 0.20 per cent. With this,IIFCL's benchmark rate hasbeen revised to 9.7 per centfrom 9.9 per cent earlier. Thischange in benchmark rate willbe effective today.

State Bank of Mysore toohas revised its base rate to 9.9per cent from 10 per cent to beeffective September 21.

Earlier, a host of otherlenders, including SBI, ICICIBank, Punjab National Bank,Bank of Baroda, Oriental Bankof Commerce and Axis Bank,had announced reduction intheir base rates. (PTI)

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HDFC, Canara Bank and others cut lending rate

Black money worth Rs 4,147 crdisclosed under new law

NEW DELHI, Oct 5:Government today said Rs

4,147 crore has been disclosedunder the black money compli-ance window, higher than Rs3,770 crore stated earlier, andthose who did not use the oppor-tunity to come clean have takenthe "risk" and will face conse-quences.

"It is the risk they havetaken...We would be going afterthem," Revenue SecretaryHasmukh Adhia said whileanswering questions on govern-ment's action plan to deal withthose who did not disclose theiroverseas assets during the 90-day compliance window thatended on September 30.

Adhia said while the totalnumber of disclosures is 638 asstated last week, the total illegalforeign assets brought to bookstands at Rs 4,147 crore.

The Government's total taxreceipt from the black moneydeclared during the window willbe Rs 2,488.20 crore.

The government had onOctober 1 said that Rs 3,770crore of black money wasdeclared during the compliancewindow. This, Adhia said, wasbased on preliminary count ofthe declarations made.

Referring to the informationrelating to HSBC Bank, Adhiasaid 132 prosecutions have beenfilled in 43 cases.(PTI)