Hyderabad, June 11 -- Canara Bank on Wednesday announced a reduction in Repo Linked Lending Rate (RLLR) from 8.75 per cent to 8.25 percent (applicable on its assets portfolio linked to External Benchmark rate), following the Reserve Bank of India's (RBI) announcement cutting the repo rate by 50 basis points, from 6.00 percent to 5.50 percent, in the latest Monetary Policy Committee (MPC) meeting.
This marks the third consecutive rate cut by the RBI in 2025, signalling a supportive stance towards economic growth amidst easing inflation.
The revised lending rates will be effective from June 12, 2025, the bank said in a release.
The RLLR has been reduced by 0.50 percent (50 basis points), directly reflecting the decrease in the RBI's repo r...