Citibank downs PLR to 14.75 pc from 15 pc

Mumbai, Apr 29: Citibank has announced a decrease in its Prime Lending Rate (PLR) by 25 basis points to 14.75 per cent from the present 15 per cent.

Citibank on Wednesday, Apr 29 revealed the reduction in PLR and that the new rate will be effective May 1, 2009.

This reduction is in line with the prevailing monetary policy of the RBI, lower deposit rates and overall cost of funds.

Citibank last revised its PLR in November, when the rate was lowered from 15.50 per cent to 15 per cent.

ANI