Canara Bank cuts lending rates by 15 basis points 
Latest News

Canara Bank cuts lending rates by 15 basis points

State-owned Canara Bank has reduced its lending rates by 15 basis points despite hike in repo rate by Reserve Bank earlier this week

PSU Watch Bureau

New Delhi: State-owned Canara Bank has reduced lending rates by 15 basis points despite hike in repo rate by Reserve Bank earlier this week. The revised Repo Linked Lending Rate (RLLR) of the bank with effect from February 12, Canara Bank said in a regulatory filing on Friday.

Following the rate cut, the new RLLR will be 9.25 percent compared to the existing 9.40 percent. On Wednesday, the Reserve Bank of India (RBI) hiked the benchmark policy rate by 25 basis points to 6.5 percent, citing sticky core inflation.

It was the sixth time the interest rate has been hiked by the RBI since May last year, taking the total quantum of increase to 250 basis points.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

Pralhad Joshi to inaugurate advanced EV battery testing facility in Kolkata

Power Ministry launches stakeholder survey to build India Energy Stack

Nexgen Energia announces nationwide expansion of multi-fuel stations along with oil PSUs

Former PNB executive director discharged in multi-crore fraud case

IPS officers Manoj Shashidhar and Sampat Meena appointed as Special Directors in CBI