SBI slashes prime lending rate by 0.25 pc

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New Delhi, Feb 12, 2008 : On Feb 11, SBI slashed its prime lending rate by 0.25%, which will render housing and car loans cheaper.

It is reported by SBI to the Bombay Stock Exchange that the benchmark prime-lending rate is revised downward by 0.25%, which is likely to come into effect from Feb 15. The reduction in PLR is likely to moderate lending rate for all categories of borrowers.

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