BWI: Citibank Reduces PLR to 14.75% from 15%

Press release from Business Wire India
Source: Citi
Wednesday, April 29, 2009 01:19 PM IST (07:49 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst
Release no: 19823
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Citibank Reduces PLR to 14.75% from 15%


Mumbai, Maharashtra, India, Wednesday, April 29, 2009 -- (Business Wire India) -- Citibank today announced it has reduced its Prime Lending Rate (PLR) by 25 basis points to 14.75 percent from the present 15 percent. The new PLR will be effective May 1, 2009. This reduction is in line with the prevailing monetary policy of the RBI, lower deposit rates and overall cost of funds.

Citibank last revised its PLR in November, when the rate was lowered from 15.50 percent to 15 percent.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.


CONTACT DETAILS
Indu Anand, Citi, + 91 (0124) 418 6766, indu.anand@citi.com
Shreela Roy, IPAN, +91 9820149119, shreela.roy@ipan.com

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst

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