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

Related News

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, IDBI Bank 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 Deposit Rates in select buckets by 25 bps from February 1, it added.

Read more on:   
|
|
|

Read More

Vijaya Bank cuts base rate by 0.25 pc

Vijaya Bank today cut its base rate by 0.25% to 10.20% with immediate effect.

Quick Links

More news from Finance Rss icon

Bond yields could drop to 8% in 6 months

Government bond yields are seen falling on expectations of a rate cut this financial year, due to a fall in retail inflation. Experts say the ...

SBI MF launches inflation-indexed bond

SBI Mutual Fund on Thursday said it had launched an inflation-indexed bond fund (IIBF) offering, which is aimed at investors with a low to ...

Long term motor policies for commercial vehicles is sometime away

It is estimated that the combined ratio for motor insurance might touch 200% by the end of March 31, 2015

Back to Top