Bank of Rajasthan hikes interest rates

July 2nd, 2008 - 9:38 pm ICT by IANS  


Mumbai, July 2 (IANS) The Bank of Rajasthan (BoR) Wednesday announced a 0.5 percent hike in its benchmark prime lending rate (BPLR) and interest rate on term deposits. The revised rates came into effect Monday. Announcing this here, BoR said that it increased its BPLR by 50 basis points - from 14.5 percent to 15 percent.

The bank said it was its first hike in BPLR in 15 months.

With this, it joined a slew of commercial banks to raise their lending rates after the central Reserve Bank of India increased the cash reserve ratio (CRR) and the repo rate recently.

BoR, in a communiqu

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