Canara Bank hikes PLR

Bangalore, Aug 8 (UNI) In the context of monetary measures initiated by the regulator Reserve Bank of India, public sector Canara Bank today hiked its prime lending rate (PLR).

It increased its benchmark PLR by 75 basis points to 14 per cent with immediate effect.

The increase would not be applicable to its existing housing, auto and educational loans.

The bank had also decided not to effect upward revision in interest rates for fresh individual housing loans up to Rs 30 lakh.

In a press release last evening, the bank said it would continue lending to productive sectors like agriculture, SME, education, infrastructure and other growth segments to ensure quality credit portfolio.

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