NABARD cuts interest rate by upto 50 bps
19/08/2014 15:37
In a move to spur investment in agricultural sector, the National Bank for Agriculture and Rural Development (Nabard) on Monday slashed the interest rate on their on medium and long-term refinance facilities to banks by 20-50 basis points with immediate effect. “The bank has reduced the rate of interest by 20 basis points (bps) on their long term refinance facility (3-5 years & 5 years) and by 50 bps for the medium term refinance facility (18 months to 3 years) to banks with an objective to give a spur to investments in agriculture,” the bank said in a statement. The NABARD further stated that banks availing more than Rs 500 crore in a single drawal will further be incentivised by 10 basis points.
19/08/2014 15:37
In a move to spur investment in agricultural sector, the National Bank for Agriculture and Rural Development (Nabard) on Monday slashed the interest rate on their on medium and long-term refinance facilities to banks by 20-50 basis points with immediate effect. “The bank has reduced the rate of interest by 20 basis points (bps) on their long term refinance facility (3-5 years & 5 years) and by 50 bps for the medium term refinance facility (18 months to 3 years) to banks with an objective to give a spur to investments in agriculture,” the bank said in a statement. The NABARD further stated that banks availing more than Rs 500 crore in a single drawal will further be incentivised by 10 basis points.
