| SBI hikes benchmark PLR to 11.5% |
| Our Web Bureau / Mumbai December 26, 2006 |
| State Bank of India (SBI) today hiked its benchmark prime lending rate (referred to as SBAR) by 50 basis points (bps) to 11.50% in response to monetary tightening by the Reserve Bank of India and protect the margins which are under pressure due to recent increase in interest rate on domestic term deposits. This is third time that SBI has raised its prime rate in this financial year. The decision by country |
