State Bank of India announced a reduction in lending rates by 0.25 per cent for those who availed of loans before July 2010.The bank's new benchmark prime lending rate (BPLR) has been set at 14.50 per cent.
The new rate will be effective from September 27. Of Rs 7.81 lakh crore domestic loan book (advances), around Rs 1 lakh crore is still on the BPLR, SBI Chief General Manager for Finance Control Sunil Pant said.The remaining loans are on the base rate regime, he added.
(Published 23 September 2012, 16:46 IST)
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