New Delhi, June 24: The Indian Banks Association on Tuesday indicated a further cut in lending rates to the corporate sector. "We are open for further reduction in Prime Lending Rate (PLR)," Indian Banks Association Chairman Dalbir Singh said addressing a seminar organised by PHD Chamber of Commerce.
At present, PLR stands 11-11.5 per cent and only a few banks charge over 11.5 per cent and there has been a ten per cent reduction in interest rates in last six years, he said. Bureau Report