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Bangalore, Feb. 2

The State Bank of Mysore (SBM) brought down its benchmark prime lending rate (BPLR) by 50 basis points to 13 per cent. A bank release said here today that the reduction took effect from February 1. The reduction notwithstanding, SBM still has a higher BPLR than its parent, SBI. SBI’s lending rate, after the last reduction, is at 12.25 per cent. Associate banks like the State Bank of Travancore and the State Bank of Bikaner and Jaipur also have a BPLR lower than SBM a t 12.75 per cent.

— Our Bureau

More Stories on : Interest Rates | Public Sector Banks

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