SIDBI reduces PLR BY 0.50 percent and deposit rate by 0.25 pc

Mumbai, Jan 22 (UNI) Small Industries Development Bank of India (SIDBI) has reduced its prime lending rate (PLR) and interest rate on deposits by 0.50 per cent and 0.25 per cent respectively.

The PLR that currently stands at 12.5 per cent will be reduced to 12 per cent with effect from January 28, while the interest rate on deposits has been reduced by 0.25 per cent across the board and across all maturities from January 19, a press release issued here today said.

SIDBI currently offers interest rates in the range of 8 per cent to 9 per cent on fixed deposits depending on the duration of the deposit.

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