Bank of India cuts lending rates

State-run Bank of India on Tuesday cut its benchmark prime lending rate (BPLR) by 0.5 per cent from 12.5 per cent to 12 per cent, effective from April 1.

State-run Bank of India on Tuesday cut its benchmark prime lending rate (BPLR) by 0.5 per cent from 12.5 per cent to 12 per cent, effective from April 1.

The reduction in BPLR will be applicable to all portfolios related to BPLR, a BoI official told PTI here. After RBI cut its policy rates recently, many banks had slashed their lending rates to pass on the benefit to their customers.

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