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Our Bureau

New Delhi , Dec. 23

Oriental Bank of Commerce on Saturday announced an increase in its prime lending rate (PLR) by 25 basis points from 11.50 per cent to 11.75 per cent with effect from January 15, 2007. The PLR was last raised by 50 basis points to 11.5 per cent in May 15, 2006.

A statement issued by Oriental Bank of Commerce also said that the interest rates on domestic term deposits have been hiked between 25 basis points and 100 basis points across all maturities with effect from December 23.

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Oriental Bank hikes deposit rates

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