Centurion Bank hikes PLR by 50 bps

New Delhi, Apr 9 (UNI) Centurion Bank of Punjab will increase the Prime Lending Rate (PLR) by 50 basis points to 15 per cent per annum.

''In recent months, we have witnessed a host of fiscal and monetary measures from the government and the central bank to control inflation and to address concerns with respect to overheating in certain sectors. Over time, these measures will have the desired impact on inflationary trends and credit growth to sensitive sectors,'' Centurion Bank of Punjab Country Treasurer Tarini Vaidya said.

This new lending interest rate will come into effect from April 10, 2007.

Centurion Bank of Punjab operates on a strong nationwide franchise of 279 branches and 408 ATMs across 143 locations. It has announced a merger with Kochi-based Lord Krishna Bank. The banks are awaiting regulatory approval from RBI.

UNI