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Kolhapur-headquartered Ratnakar Bank has increased its base rate by 50 basis points to 8.50 per cent and its benchmark prime lending rate by 75 basis points to 13.75 per cent.
The old generation private sector bank said the upward revision has been necessitated in view of rising deposit rates and monetary policy tightening over the last several months. The changes in lending rates are effective February 17.
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