Bank of Baroda has cut its RLLR from 8.65% to 8.15% effective June 7, while PNB’s rate will be down from 8.85% to 8.35%. Bank of India has lowered the rates from 8.85% to 8.35%. HDFC Bank reduced its MCLR by 10 basis points across tenures. Banks like HDFC, ICICI also cut their FD interest rates on 1-year term deposits.