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Tuesday, Feb 03, 2004
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 Money & Banking - Interest Rates


IDBI cuts lending rate by 2.25 percentage points

Our Bureau

Mumbai , Feb. 2

THE Industrial Development Bank of India has cut its benchmark-lending rate by 2.25 percentage points.

The Minimum Term Lending Rate (MTLR) was slashed to 10.25 per cent from 12.50 per cent per annum, said the institution in a press note issued here.

All loan products will be offered in relation to MTLR depending on risk perception, tenure and purpose of the loan.

Further, IDBI has done away with one rate, minimum short-term lending rate.

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