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Bangalore, Feb. 16

Public sector Syndicate Bank has reduced lending rates on home and consumer loans by 25 and 150 basis points effective from February 18. A bank release said the rate reduction for small scale industries and medium enterprises was between 25 and 100 basis points. The reduction was done, the release said, to improve the flow of credit to these sectors. Besides, the bank has also effected a reduction of 100 basis points on its “Synd Mahila” scheme. This scheme is targeted specifically at women entrepreneurs. The banks prime lending rate is currently 13 per cent.

— Our Bureau

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