State-owned lender Canara Bank has cut base rate and BPLR by 0.25 percentage points each to 10.50% and 14.75% respectively, which will take effect from tomorrow.
The deposit rates also stand reduced by 0.1 to 0.50 percentage points under select maturities, the city-based bank said in a statement.
The bank has decided to effect an additional reduction of 0.25 percentage points in all agricultural term loans.
"This move is aimed at encouraging investments in rural godowns, cold storages, farm mechanisation, minor irrigation and allied activities," it said.
"The special concession is extended to existing as well as new farmer borrowers," it added
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app