CIN: L65190MH2004GOI148838
For Immediate Publication / Broadcast / Telecast
PR-1312
IDBI Bank reduces Base Rate
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.'
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सीआइएन / (CIN)L65190MH2004GOI148838
IDBI Bank Limited published this content on 28 July 2016 and is solely responsible for the information contained herein.
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