:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

DENA BANK UPS LENDING RATES BY 25 BPS


Medium-sized state-run lender Dena Bank today became the second bank to raise its base rate by 25 basis points to 10.2%.

The bank has also upped its benchmark lending rate by a similar quantum to 15.25%, the lender said in a release here. The new rates will be effective from tomorrow.

Since the Reserve Bank had raised its key policy rates by 25 bps at its mid-quarter policy review on June 16 -- the tenth hike since March, 2010, during which time it has upped the short-term lending and borrowing rates a by whopping 250 basis points to 7.5 and 6.5%, respectively to batten down inflation-- many banks have hinted at upping their base rates.

Yesterday, the Bangalore-based state-run lender Canara Bank became the first lender to do so, when it raised its base rate and lending rates by 25 bps to 10.25% effective from July 1, and the benchmark lending rate by a similar amount to 14.50%, attributing it to rise in the cost of funds

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