Canara Bank cuts base rate by 30 bps to 9.95%

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Public-sector lender, Canara Bank has reduced the base rate by 30 basis points from 10.25 per cent to 9.95 per cent for all loans/advances namely, agriculture, MSME sector, retail and export credit with effect from July 08, 2013.

Moreover, the bank has also reduced rate of interest by up to 50 basis points on deposits with select maturity slabs, Canara Bank said in a filing to the Bombay Stock Exchange.

Read more about: canara bank
Story first published: Friday, July 5, 2013, 12:51 [IST]
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