SBI and Canara Bank cuts PLRSBI and Canara Bank cuts PLR by 25 basis points
Apnaloan.com Research Bureau
12 Feb 2008
State Bank of India (SBI) and Canara Bank have cut their benchmark rates, the state bank advanced rate (SBAR) and prime lending rate (PLR), by 25 basis points respectively.
While the SBAR has been cut to12.5 per cent, Canara Bank reduced its PLR to 13 per cent. The new rates will be effective from February 16.
Most banks have maintained the PLR in the 12.5-13.25 per cent range.