Monday, June 8, 2015

#Syndicate Bank cuts base rate by 25 bps to 10%

After the RBI lowered the repo rate by 25 bps, Syndicate Bank has cut the base rate by 25 bps to 10%. The new rate would be effective June 8, the bank said in a press note toady.The bank also lowered its Benchmark Prime Lending Rate (BPLR) from 14.50% to 14.25% per annum.Central Bank of India had cut base rates by 30 basis points to 9.95%. Indian Bank has cut base rate by 30 bps to 9.95% effective June 8.Most bankers feel cutting the BR rate alone will not help generate demand for loans, as there are structural issues like coal linkages and environmental clearances, infrastructure bottlenecks which need to be addressed first to revive investment climate.