State Bank of Travancore raises PLR by 0.5 pc
State Bank of Travancore decided to raise its prime lending rate by 0.50 per cent to 13.50 per cent to protect margins.
By PTI |
MUMBAI: State Bank of Travancore on Monday decided to raise its prime lending rate by 0.50 per cent to 13.50 per cent to protect margins.
The bank's PLR would go up from the existing 13 per cent, and has been effective from July 1, State Bank of Travancore (SBT) said in a filing to the Bombay Stock Exchange.
The lending rate revision would lead to an increase in PLR-related lendings like floating home loan, corporate loan, car loan, etc.
The bank's announcement followed suit of other major public and private sector banks which increased their PLRs by 0.25 per cent to one per cent to protect margins.
Last month, RBI increased its short term lending rate and the mandatory level of deposit that banks are required to park with the central bank by 50 basis points each to contain inflation.
Shares of the bank closed at Rs 2,993, up 2.58 per cent on the BSE.
The bank's PLR would go up from the existing 13 per cent, and has been effective from July 1, State Bank of Travancore (SBT) said in a filing to the Bombay Stock Exchange.
The lending rate revision would lead to an increase in PLR-related lendings like floating home loan, corporate loan, car loan, etc.
The bank's announcement followed suit of other major public and private sector banks which increased their PLRs by 0.25 per cent to one per cent to protect margins.
Last month, RBI increased its short term lending rate and the mandatory level of deposit that banks are required to park with the central bank by 50 basis points each to contain inflation.
Shares of the bank closed at Rs 2,993, up 2.58 per cent on the BSE.
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