PTI
Mumbai: Jammu and Kashmir Bank has revised its prime lending rate (PLR) by 1% to 14% effective 13 June following the Reserve Bank of India’s announcement to increase its short-term lending rates to banks by 25 basis points.
Earlier, on 11 June, the Reserve Bank of India (RBI) hiked its short-term lending rates (repo rates) to banks by 0.25% with immediate effect.
The Reserve Bank had said the decision has been taken with a view to containing inflation expectations among other things.
Shares of the bank were trading at Rs620.90, up 1.11% on the BSE in afternoon trade.
