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SBI raises benchmark lending rate to 12.25%

SBI raises benchmark lending rate to 12.25%
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First Published: Tue, Feb 20 2007. 03 16 AM IST
Updated: Tue, Feb 20 2007. 03 16 AM IST
Mumbai: India’s largest commercial bank, State Bank of India, increased its benchmark lending rate by 75 basis points from 11.50% to 12.25%.
The new rate takes effect from 20 February. However, the bank has said some sectors will be exempt from the lending rate hike. These sectors are: existing housing loans under the priority sector, agricultural production loans less than Rs3 lakh and educational loans up to Rs4 lakh.
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First Published: Tue, Feb 20 2007. 03 16 AM IST
More Topics: Money Matters | Personal Finance |