Mumbai, Feb. 2
The National Bank for Agriculture and Rural Development has reduced the interest rates on refinance for investment credit by 25 -75 basis points for lending rates made by various rural financial institutions. The revised interest rates, with effect from February 2, will be 9.5 per cent for commercial banks and 9 per cent for co-operative banks and RRBs, said a press release from Nabard. Special relaxation of 50 basis points has been extended for the North-East region, hill States and Andaman and Nicobar Islands in respect of financing made by commercial banks, said the release.
— Our Bureau