Current Affairs - Banking - Discussion

Allahabad Bank announced that, it has reduced the base rate and benchmark prime lending rate (BPLR) by 45 basis points each. The Asset Liability Management Committee (ALCO) of Allahabad bank decided to decrease base rate and BPLR (benchmark prime lending rate) by 45 basis points. Allahabad Bank has reduced base rate to 9.15 per cent from 9.60 per cent. BPLR has been reduced to 13.40 per cent from 13.85 per cent. These revised rates will be effective from 2nd April 2018. This move will reduce EMIs for its borrowers.