IDBI Bank cuts lending, deposit rates by 25 bps

Loans linked to base rate will become cheaper with effect from February 1, 2013

becomes the first bank to cut lending and by 25 basis points each after Reserve Bank of India slashed repo rate and Cash Reserve Ratio by 25 basis points  

IDBI Bank’s loans, linked to Base Rate, will become cheaper with effect from February 1, 2013. The new base rate will be 10.25 per cent. Benchmark Prime Lending Rate (BPLR)  

This is pro-active step, keeping in view the policy measures announced by the RBI in its third quarter review of Monetary Policy, said in a statement.

The rate revision is expected to positively impact loan growth in retail consumer segment and revitalise fixed capital formation through higher corporate sector lending.

Mumbai-based bank also reduced the Retail Term in select buckets by 25 bps from February 1, it added.

image
Business Standard
177 22
Business Standard

IDBI Bank cuts lending, deposit rates by 25 bps

Loans linked to base rate will become cheaper with effect from February 1, 2013

Abhijit Lele  |  Mumbai 

becomes the first bank to cut lending and by 25 basis points each after Reserve Bank of India slashed repo rate and Cash Reserve Ratio by 25 basis points  

IDBI Bank’s loans, linked to Base Rate, will become cheaper with effect from February 1, 2013. The new base rate will be 10.25 per cent. Benchmark Prime Lending Rate (BPLR)  

This is pro-active step, keeping in view the policy measures announced by the RBI in its third quarter review of Monetary Policy, said in a statement.

The rate revision is expected to positively impact loan growth in retail consumer segment and revitalise fixed capital formation through higher corporate sector lending.

Mumbai-based bank also reduced the Retail Term in select buckets by 25 bps from February 1, it added.

RECOMMENDED FOR YOU

IDBI Bank cuts lending, deposit rates by 25 bps

Loans linked to base rate will become cheaper with effect from February 1, 2013

IDBI Bank becomes the first bank to cut lending and deposit rates by 25 basis points each after Reserve Bank of India slashed repo rate and Cash Reserve Ratio by 25 basis points  IDBI Bank’s loans, linked to Base Rate, will become cheaper with effect from February 1, 2013.

becomes the first bank to cut lending and by 25 basis points each after Reserve Bank of India slashed repo rate and Cash Reserve Ratio by 25 basis points  

IDBI Bank’s loans, linked to Base Rate, will become cheaper with effect from February 1, 2013. The new base rate will be 10.25 per cent. Benchmark Prime Lending Rate (BPLR)  

This is pro-active step, keeping in view the policy measures announced by the RBI in its third quarter review of Monetary Policy, said in a statement.

The rate revision is expected to positively impact loan growth in retail consumer segment and revitalise fixed capital formation through higher corporate sector lending.

Mumbai-based bank also reduced the Retail Term in select buckets by 25 bps from February 1, it added.

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard