Sep 23,
The State Bank of India, SBI has announced a
reduction in lending rates by 0.25 per cent for those who availed loans before
July 2010. The bank's new benchmark prime lending rate, BPLR has been set at
14.50 per cent. The new rate will be effective from September 27.
Earlier on September 18, the SBI had cut the minimum
lending, or base rate, by a similar percentage on RBI's cues. The RBI had cut
the Cash Reserve Ratio a day earlier by 0.25 per cent to 4.5 per cent
.
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