Indian Bank cuts BPLR and base rate by 0.25

Public sector Indian Bank has reduced its benchmark prime lending rate BPLR by 0.25 per cent with effect from May one.

The Chennai-headquartered bank has reduced the BPLR from the existing 15 per cent to 14.75 per cent per annum from May one,2012,a bank statement said.

The base rate of the bank has also been reduced by 0.25 per cent from the existing 10.75 per cent to 10.50 per cent,per annum with effect from May one,it added.