CORPORATION BANK SAYS ITS BASE RATE LIKELY TO BE BETWEEN 8.25% AND 8.5%

According to Mr. Narendra Singh, Executive Director, Corporation Bank, the bank is likely to fix its base rate between 8.25 per cent and 8.5 per cent and that it will announce the rate after its board meeting later this month. Currently, about 40 per cent of the bank's loans are given at sub-PLR rates.

The bank does not expect any major loss of business in terms of short-term corporate loans with the base rate coming in.

Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/finance/Corporation-Bank-says-its-base-rate-likely-to-be-between-825-and-85/articleshow/6064192.cms