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 Money & Banking - Interest Rates
Karur Vysya to reduce BPLR

Coimbatore, Dec. 6

The Managing Director of Karur Vysya Bank, Mr P.T. Kuppuswamy, said the cut in the policy rate was on the cards and it was no surprise. “We have decided to reduce the BPLR rate by 50 basis points to 15.25 per cent with effect from December 15,” he said.

He ruled out any further cut below this level for the present.

“Around 75 to 80 per cent of the advances are below BPLR. The proposed reduction of 50 basis points would exclude those to who we have lent at sub-PLR,” he said. —

Our Bureau

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