IDBI defers reduction in benchmark prime lending rate

Written by Agencies | Mumbai, March 29: | Updated: Mar 29 2008, 22:49pm hrs
Industrial Development Bank of India said it has put on hold the decision it took last Wednesday to cut its Benchmark Prime Lending Rate with effect from April 1.

The revised date of implementation of the revision in the BPLR would be decided later, IDBI said in a statement.

The bank had on March 26 announced a 0.5 per cent reduction of BPLR to 12.75 per cent, which was to come into effect from April 1, 2008.