New Delhi, Sep 23 (PTI) Private sector lender Karur Vysya Bank on Thursday said it has cut the base rate and the benchmark prime lending rate to 8 per cent and 13 per cent, respectively, effective Friday.

"We advise that base rate and BPLR of the bank would be revised with effect from September 24, 2021," Karur Vysya Bank said in a regulatory filing.

Also Read | Twitter To Fix Disappearing Tweets Issue Soon: Report.

Both the rates have been slashed by 0.45 per cent each.

Base rate is the minimum rate, below which banks are not allowed to lend to its customers.

Also Read | Planning To Invest? Expert Amne Suedi Guides Investment In Africa.

BPLR is applicable only for existing customers and is not applicable for fresh lending. HRS hrs

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)