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IDBI Bank lowers PLR by 0.5 per cent

Having regard to the downward movement in the interest rates both on deposits and loans, following reduction in interest ates on public provident fund, the IDBI Bank has dropped its prime lending rate for cash credits by 0.5 per cent with effect from February 1.

The bank's PLR structure is: for working capital advances 14 per cent per annum, for short term loans upto 180 days 11 per cent per annum, and for term loans 14.5 percent per annum.

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