Indian Bank cuts BPLR and base rate by 0.25%

The rate has been reduced from 15% to 14.75%

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

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

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