Business Daily from THE HINDU group of publications
Thursday, Jan 01, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Thursday, Jan 01, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Interest Rates More banks cut BPLR Our Bureaus Bangalore, Mumbai, Dec. 31 Public sector Canara Bank has reduced its Benchmark Prime Lending Rate by 75 basis points effective from January 1 to 12.50 per cent. The reduction in interest rates applies to loans that are currently linked to BPLR. A bank release said that interest rate on auto loans had been reduced by 50 basis points to 12 per cent. Bank of Rajasthan today announced it is cutting its benchmark prime lending rate by 50 basis points from 16 per cent to 15.5 per cent, with effect from January 1, 2009. Following the cut, the interest rates on all loans linked to the BPLR will reduce by 50 basis points, said a press release from the bank. The bank had reduced home loan rates by 150 basis points with effect from December 22. More Stories on : Interest Rates
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