IDBI Bank reduces its Base Rate from 9.75% p.a. to 9.65% p.a
Author(s): City Air NewsMumbai, July 28, 2016: IDBI Bank reduces its Base Rate from 9.75% p.a. to 9.65% p.a. The Benchmark Prime Lending Rate (BPLR) is also reduced from 14.25% p.a. to 14.15% p.a. The revision in the rates shall be effective...
cityairnews
Jul 28, 2016 12:30
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Mumbai, July 28, 2016: IDBI Bank reduces its Base Rate from 9.75% p.a. to 9.65% p.a. The Benchmark Prime Lending Rate (BPLR) is also reduced from 14.25% p.a. to 14.15% p.a. The revision in the rates shall be effective from August 01, 2016.
The Bank has recently reduced its Marginal Cost of Funds based Lending Rates (MCLR). The reduction in benchmark rates is expected to positively impact loan growth; both in the retail consumer segment, corporate sector lending, thereby supporting the growth impulses in the economy.
The Bank has also changed retail deposit rates by 10-25 bps in selected buckets of ‘15-30 days’, ‘31-45 days’ and ‘3 years to less than 5 years.’
Date:
Friday, July 29, 2016
