Idbi, Icici Rule Out Immediate Cut

With State Bank of India (SBI) slashing its PLR to 15.5 per cent, the difference in the prime rates of the two financial institutions and the largest commercial bank in the country has widened to 1.5 percentage points.

Both IDBI and ICICI had revised their prime rates to 17 per cent earlier this financial year. Industrial Finance Corporation of India's (IFCI) prime lending rate is pegged one percentage point lower at 16 per cent.

The growth in advances as well as disbursements at ICICI is between 25 per cent and 30 per cent