Press release from Business Wire India
Source: Ratnakar Bank
Thursday, July 28, 2011 08:15 PM IST (02:45 PM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Retailers, Stock exchanges
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Ratnakar Bank Announces Revision of its Base Rate and BPLR
Mumbai, Maharashtra, India, Thursday, July 28, 2011 -- (Business Wire India) -- Ratnakar Bank today announced an upward revision of its Base Rate from 9.50 % to 9.75 % and of its BPLR from 14.75 % to 15.00 %. The Bank has also increased its deposit rates by 25 to 50 bps across certain maturities. The upward revision has been necessitated against a backdrop of increasing deposit rates and monetary policy tightening that the market has witnessed recently. These changes are effective July 30, 2011.
About Ratnakar Bank
Ratnakar Bank is a scheduled commercial bank established in 1943, with registered office at Kolhapur and a rich business legacy in the region serving the trading, agri & manufacturing sectors through a network of 100 licensed branches spread across Maharashtra, Gujarat, Delhi, Karnataka & Goa. It has assets exceeding Rs.3230 crores and deposits of Rs.2042 crores as of March 31, 2011. The Bank's leadership includes a highly experienced team with strong credentials - the Bank has recently concluded a very successful equity issue that would enable the Bank to invest in technology, people, process and infrastructure.
CONTACT DETAILS
Madhulika Gupta, Repute Solutions, +91 (22) 26059019, : madhulika.gupta@reputesolutions.com
KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, RETAIL, STOCK EXCHANGES
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