An official communiqué of the Small Industries Development Bank of India (Sidbi) said the bank has reduced its prime lending rate and interest rate on deposits by 0.50 per cent and 0.25 per cent respectively. The PLR which is 12.5 per cent at present will be reduced to 12 percent with effect from 28 January.
Meanwhile, from 19 January the interest rate on deposits has been reduced by 0.25 per cent across the board and across all maturities. Sidbi currently is giving interest rates in the range of eight to nine per cent on fixed deposits depending on the duration of the deposit.
Sidbi was established in 1990, with a mission to make the micro, small and medium enterprises (MSME) sector powerful with a view to contribute to the process of economic growth, employment generation and balanced regional development. Sidbi provide finances to the MSME sector through a wide network of other primary lending institutions such as banks, state financial corporations (SFCs) and micro finance institutions (MFIs).
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment