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Base Rate Fixed between 7.5 to 8 %


RBI had asked banks to determine the Base rate for lending to replace the earlier Benchmark Prime Lending Rate (BPLR) on 9 April 2010. Banks fixed their Base rate to be effective from 1 July 2010 following the RBI guidelines.

Oct 13, 2010 11:00 IST
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RBI had asked banks to determine the Base rate for lending to replace the earlier Benchmark Prime Lending Rate (BPLR) on 9 April 2010. Banks fixed their Base rate to be effective from 1 July 2010 following the RBI guidelines. All banks recently fixed their base rate at 7.5 to 8 %. SBI fixed it at 7.50 per annum. Union Bank of India and Punjab National Bank informed the BSE that they had fixed the Bank Rate at 8 per cent.

Key words- base rate, RBI, Union Bank of India, Punjab National Bank, BSE