Indian Bank cuts BPLR and base rate by 0.25 per cent

 State-owned Indian Bank has decided to reduced its benchmark prime lending rate (BPLR) by 0.25 per cent with effect from tomorrow.

The Chennai-based bank has reduced the BPLR from the existing 15 per cent to 14.75 per cent per annum from May 1, 2012, a bank statement said.

The base rate of the bank has also been reduced by 0.25 per cent from the existing 10.75 per cent to 10.50 per cent, per annum with effect from May 1, it added.