DCB raises BPLR by 50 basis point

Development Credit Bank (DCB), a modern emerging new generation private sector bank, has announced the revision of the benchmark prime lending rate (BPLR) to 15.50 per cent for all eligible advances linked to BPLR. The bank has increased the BPLR by 50 basis point i.e. to 15.50 per cent from 15 per cent per annum with effect from September 1.

“This hike reflects the increased cost of funds. Our internal assessment is that the upward bias in interest rates may continue for the next two quarters.”