Ca­nara Bank raises base rate by 25 bps

The Financial Express - - FRONT PAGE -

CA­NARA Bank on Mon­day raised its base rate or the min­i­mum lend­ing rate by a quar­ter point to 10.20% even as the Re­serve Bank of In­dia kept its pol­icy rates un­changed in its mid-quar­ter mone­tary pol­icy re­view ear­lier this month. Ca­nara Bank be­comes the first ma­jor state-owned bank to in­crease its base rate af­ter RBI's pol­icy an­nounce­ment, a move that will make loans, in­clud­ing home and auto, costlier.

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