Mumbai, July 1 (IANS) State-owned Indian Overseas Bank Friday raised its benchmark prime lending rate by 25 basis points in response to the monetary tightening measures taken by the Reserve Bank of India (RBI).
The bank has raised its benchmark prime lending rate (BPLR) to 14.50 percent effective July 1 from the earlier 14.25 percent, Indian Overseas Bank said in a regulatory filing to the Bombay Stock Exchange.
The BPLR is the interest rate that commercial banks charge their most credit-worthy customers.
