Money & Banking

SBT cuts lending rate by 25 bps

PTI Mumbai | Updated on October 04, 2012

State Bank of Travancore (SBT) today lowered its benchmark prime lending rate by 0.25 per cent with effect from October 8.

The bank has lowered the BPLR (benchmark prime lending rate) to 15.25 per cent from 15.50 per cent at present, SBT said in a BSE filing.

However, the base rate will remain at 10.50 per cent, same as the existing rate.

The revised rate will be effective from October 8, it said.

Shares of the bank today closed at Rs 533 a piece on the BSE, up 2.05 per cent from the previous close.

Published on October 04, 2012

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