The Hindu Business Line : Canara Bank hikes lending rate

Canara Bank today announced that it has decided to increase its benchmark prime lending rate by 75 basis points to 12.5 per cent effective tomorrow. This is the third time that the public sector bank has raised its PLR during the current fiscal. It had first revised the rate in September last and January this year, each time by .25 per cent. The current increase comes in the wake of the Reserve Bank of India's efforts to raise the cash reserve ratio in a bid to rein in rising inflation and curb liquidity.

More Stories on : Interest Rates | Public Sector Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
LIC invests Rs 7,000 cr in equity under ULIPs

SBI Life launches pension product with options

Canara Bank hikes lending rate

Gross bank credit increases by Rs 29,624 cr

Loans against securities: Investors face piquant situation

Srei Infra inducts new partners into Russian arm

Asian markets recovering lost ground, says Reddy