Oriental Bank of Commerce (OBC) has reduced interest rates by 100-250 basis points on certain agricultural advances. It has also introduced a new scheme for the mid-corporate segment including micro, small and medium enterprises (MSMEs), which will give them lower interest rates.
As per the revision, for borrowers with credit limit of Rs 1 crore and upto Rs 50 crore, interest rate will vary from base rate plus 2% to base rate plus 3%. The bank has a MSME loan book of about Rs 20,000 crore. The existing normal rates charged for MSME borrower’s ranges between base rate plus 2.75% to base rate plus 4%.
Oriental Bank of Commerce is a Government of India undertaking whose business activities includes monetary intermediation of commercial banks, saving banks and discount houses.
| Company Name | CMP |
|---|---|
| SBI | 1019.55 |
| PNB | 107.20 |
| Canara Bank | 134.35 |
| Bank Of Baroda | 264.05 |
| Union Bank Of India | 166.15 |
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