Financial Daily from THE HINDU group of publications
Friday, Nov 01, 2002
Financial Daily from THE HINDU group of publications Friday, Nov 01, 2002 |
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Public Sector Banks Money & Banking - Interest Rates SBI cuts PLR 25 basis points Our Bureau
MUMBAI, Oct. 31 STATE Bank of India (SBI) has announced reduction in prime lending rates. More banks are expected to follow suit. Following the 25 basis point bank rate cut in the Credit Policy, SBI has cut its prime lending rate (PLR) by 25 basis points to 10.75 per cent (11 per cent). The medium term lending rate has been revised to 11.25 per net (11.50 per cent) and short-term advance rate to 10.25 per cent (10.50 per cent). The 25 basis points cut is effective from November 1.
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