Millennium Post

central bank cuts base rate by 25 bps

Central Bank of India has revised its base rate from the existing 10.25 per cent  to 10 per cent with effect from 15 July, 2013.  In view of this revision, the rate of interest on advances linked to base rate will undergo change with effect from this date, the bank stated on Wednesday. 

The interest rate on domestic term deposits for the various buckets has also been revised with effect from 15th July 2013.  The revised interest rates range between 6.50% to 9.00%. BPLR remains unchanged at 15%.
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