Jammu and Kashmir Bank has become the first bank to raise the prime lending rate (PLR) from 13 per cent to 14 per cent following an announcement by the Reserve Bank of India on Wednesday to increase the repo rate or a rate at which central bank lends to banks by 25 basis points.


</p><tr><td><p class='TableClas'></p><P class='TableClas'> <DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>In a communique to the BSE, the bank informed about its decision to increase PLR rate. The other private sector and private banks are expected to follow the suit and increase the PLR rate as well as rate for fixed deposits.&nbsp; The RBI announced to increase the rate to squeeze liquidity out of market to arrest runaway inflation. </P></p></table>


Jammu and Kashmir Bank raises prime lending rate

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