State Bank of India Reduces Base Rate and Benchmark Prime Lending Rates Each by 30 bps

Posted on:02 Jan 2018 12:16:19
State Bank of India Reduces Base Rate and Benchmark Prime Lending Rates Each by 30 bps
02 January 2018 Current Affairs: The State Bank of India reduced the base rate and benchmark prime lending rates by 30 basis points each, which will benefit nearly 80 lakh customers on the old pricing regime.

SBI revised down the base rate to 8.65 percent for existing customers from 8.95 percent, while the benchmark prime lending rates are down from 13.7 percent, to 13.4 percent.

The one-year MCLR of the bank stands unchanged at 7.95 percent. 

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