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Lending rate cut

BANGALORE: Canara Bank has reduced its benchmark prime lending rate by 25 base points with effect from February 16. The bank had earlier reduced its rate of interest on housing loan by 25 base points. A press release from the bank said that the bank had pursued the goal or rebalancing the credit portfolio and had achieved a growth of 28 per cent under small and medium enterprises, 24 per cent under agriculture and 20 per cent under infrastructure lending.

— Staff Reporter

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