By IANS,
Mumbai : Indian public sector bank Corporation Bank revised its benchmark prime lending rate by 50 basis points Thursday in order to cope with the increase in the cost of funds, a bank statement said.
The new rate of 14 percent will be effective from August 11.
The Mangalore-based bank, however, said housing loans with sanctioned value of less than Rs.3 million, agricultural loans and educational loans will be kept outside the purview of this rate hike.