Canara Bank head office in Bengaluru.
Bengaluru: Canara Bank, in an official statement, has announced a reduction in its Repo Linked Lending Rate (RLLR) from 8.75 percent 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 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 RLLR has been reduced by 0.50 percent (50 basis points), directly reflecting the decrease in the RBI’s repo rate.
Impact on customers
This move will lower borrowing costs for customers with loans linked to RLLR, the press release added.
Depending on their loan terms, customers may benefit from reduced EMIs (Equated Monthly Instalments) or a shorter loan tenure.
Bangalore International Airport Limited (BIAL), operator of the Kempegowda International Airport in Bengaluru, has successfully…
On Tuesday (30July 2025), the International Monetary Fund (IMF) released an update to its World…
In a significant stride towards preventive oncology for women, Apollo Cancer Centres (ACCs) have unveiled…
Senior officials from ERGO Group and CamCom Technologies at the media event. Bengaluru: In a…
Come November, the Nobel Prize Dialogue will arrive in India, in exclusive partnership with the…
In a landmark moment for India’s combat sports journey, Ronin FC, one of the country’s…