State Bank of
Over the next fortnight, public sector bank chiefs are expected to cut lending rates by 25 to 100 basis points. UCO Bank is likely to cut its prime lending rate by 100 basis points by the end of this month, according to its CMD, Mr S. K. Goel. The bank’s PLR stands at 12.5 per cent. The bank’s asset and liability committee is scheduled to meet on June19.
While the impact of a cut in lending rates is immediate, that in deposit rates is reflected only with a lag. The NIMs of most PSU banks have fallen below 3 per cent in the last quarter of the just ended fiscal, due to the successive cuts in PLRs. PLRs of public sector banks are in the 11-12.5 per cent range. SBI’s benchmark prime lending rate is 12.25 per cent.
crackcrackCompany Name | CMP |
---|---|
SBI | 821.25 |
Bank Of Baroda | 245.95 |
Canara Bank | 101.15 |
PNB | 101.50 |
Union Bank Of India | 119.15 |
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