SBI, Canara Bank cut PLR again

State Bank of India (SBI) and Canara Bank have cut their benchmark rates again by 25 basis points (bps).

The state bank advanced rate (SBAR) had been cut from 12.75 per cent to 12.5 per cent on February 11, 2008 and it has further cut the SBAR to 12.25 per cent on February 21, 2008.

Canara Bank reduced its prime lending rate (PLR) from 13.25 per cent to 13 per cent on February 11, 2008 and it has further reduced the PLR to 12.75 per cent on February 21, 2008.