Corporation Bank raises benchmark advance rate by 50 bps

New Delhi, Aug 7 (UNI) Corporation Bank today hiked its Benchmark Advance Rate (COBAR) by 0.50 per cent to 14 per cent from 13.50 per cent with effect from August 11.

The Bank has taken the step in order to cope with the impact of increase in the cost of funds, it said in a statement.

However, the Bank has kept the housing loans with sanctioned limits up to Rs 30 lakh, agriculture loans and educational loans outside the purview of present revision.

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