Nabard slashes refinance rates from WednesdayJuly 14th, 2009 KOLKATA - Agricultural credit lender National Bank for Agriculture and Rural Development (Nabard) cut refinance rates Tuesday with effect from Wednesday, a top official said here. "We are cutting the rates for both commercial banks and co-operative and regional rural banks by 50 basis points," said Nabard chairman Umesh Chandra Sarangi.
Corporation Bank plans to raise Rs.1,000 croreJune 30th, 2009 KOLKATA - The state-run Corporation Bank is planning to raise Rs.1,000 crore this fiscal, a top official said here Tuesday. "This year we have already raised Rs.1,000 crore and we are planning to raise another Rs.1,000 crore through tier I perpetual bonds or tier II capital," J.M.
UCO Bank may slash deposit rates again next monthJune 29th, 2009 KOLKATA - The city-based UCO Bank is likely to slash deposit rates by 50-100 basis points soon, a top official said here Monday. The bank cut its lending rates by 50 basis points recently to 12 percent.
Allahabad Bank not likely to cut rates soonJune 24th, 2009 KOLKATA - State-run Allahabad Bank is unlikely to cut either interest rates or deposit rates soon, a top bank official said here Wednesday. There is a demand that interest rates should be made affordable but there are other factors that need to be taken into account, the bank's chairman and managing director K.R.
UCO Bank to slash lending rates next weekJune 19th, 2009 KOLKATA - The city-based UCO Bank will cut its deposit and lending rates by 50 basis points soon, a top bank official said here Friday. We would cut both the deposit and lending rates by 50 basis points from June 27, UCO chairman and managing director S.K.
SBI slashes deposit rates by 25 basis pointsMay 2nd, 2009 MUMBAI - The country's largest lender State Bank of India Saturday said it has cut deposit rates by 25 basis points (bps) effective from Monday. The new interest rate, for a deposit of 15-45 days, will be 3.75 percent, while deposits up to 10 years will fetch interest of 8.25 percent, SBI said in a statement.
Punjab National Bank cuts lending rateApril 30th, 2009 NEW DELHI - Public sector lender Punjab National Bank (PNB) has reduced its benchmark lending rate by 50 basis points to 11 percent, it announced Thursday. The benchmark prime lending rate (BPLR) has been slashed from 11.5 percent to 11 percent from Friday, the bank said in a statement.
PNB reduces lending rate by 50 basis pointsApril 30th, 2009 NEW DELHI - The Punjab National Bank on Thursday reduced its benchmark lending rate by 50 basis points to 11 percent. The Benchmark Prime Lending Rate (BPLR) has been slashed from 11.5 per cent to 11 per cent effective tomorrow, the bank said in a statement.
IDBI Bank reduces interest rates on term depositsApril 29th, 2009 NEW DELHI - Taking a cue from the State Bank of India, the state-run IDBI Bank Wednesday announced cut in its interest rates on retail term deposits by 25-50 basis points across various maturity buckets. The bank has also realigned its maturity buckets by bifurcating the three-year-five-day to 10 years maturity bucket into two separate buckets : three-year-five-day to five years, and five years to 10 years.
Punjab National Bank rules out further cut in interest ratesMarch 27th, 2009 NEW DELHI - The state-owned Punjab National Bank (PNB) feels it would be difficult to lower lending rates any further if the government did not slash interest rates on existing deposits. 'The Reserve Bank of India (RBI) is not reducing interest on savings bank deposits.
ICICI Bank slashes home loan ratesMarch 7th, 2009 MUMBAI - Two days after the country's central bank lowered key rates, private lender ICICI Bank Friday cut interest rates in new home loans by 25-50 basis points. For home loans less than Rs.2 million, the lending rate would come down to 9.75 percent from 10 percent, a bank spokesperson said.
Union Bank cuts new home, car loan ratesMarch 1st, 2009 NEW DELHI - Public sector lender Union Bank of India has lowered interest rates on new home loans by 25 to 100 basis points and car loans by 125 to 150 basis points. The new rates would be effective from Sunday, the bank said in a statement Saturday.
Punjab National Bank cuts car loan rates by 50 basis pointsMarch 1st, 2009 NEW DELHI - Public sector lender Punjab National Bank (PNB) has lowered interest rates for car loans by 50 basis points, effective from Sunday. 'The interest rate on car loan would come down from 11-11.5 percent to 10.5-11 percent, with effect from March 1,' PNB said in a statement Saturday.
More state-owned banks reduce lending ratesDecember 28th, 2008 NEW DELHI - Dena Bank, Punjab National Bank (PNB) and Bank of Baroda will reduce their benchmark prime lending rates (BPLR) from Jan 1, the three state-owned banks announced Monday. Dena Bank will cut its BPLR by 75 basis points from 13.5 percent annually to 12.75 percent.
Punjab National Bank, Bank of Baroda reduce lending ratesDecember 28th, 2008 NEW DELHI - Punjab National Bank (PNB) Monday reduced its benchmark prime lending rate (BPLR) by 50 basis points from 12.5 percent annually to 12 percent from Jan 1. Bank of Baroda too reduced its BPLR by 75 basis points from existing 13.25 percent to 12.5 percent, also from Jan 1.
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