Karur Vysya Bank, one of the leading private sector banks in India, has announced a revision in its Base Rate and Benchmark Prime Lending Rate (BPLR) with effect from June 15, 2023. The new rates are as follows: Base Rate: 8.25% per annum (reduced by 0.10% from 8.35%) BPLR: 12.75% per annum (reduced by 0.10% from 12.85%) The Base Rate is the minimum interest rate at which the bank lends to its customers, except for certain categories of loans. The BPLR is the reference rate for determining the interest rate on loans and advances that are not linked to the Base Rate. The revision in the Base Rate and BPLR will benefit the existing borrowers of the bank who have availed loans at floating rates. The new rates will also make the bank’s loan products more attractive and competitive in the market. The bank has taken this decision in view of the prevailing economic conditions and the monetary policy stance of the Reserve Bank of India (RBI). T...