Canara Bank cuts repo-linked lending rate by 25 bps

Following the Reserve Bank of India’s decision to cut the repo rate by 25 basis points to 5.25% in the latest Monetary Policy Committee meeting, Canara Bank has reduced its Repo Linked Lending Rate (RBLR) from 8.25% to 8%. The revised rate came into effect on December 12.

The bank said the reduction directly reflects the RBI’s repo rate cut and will benefit customers through lower EMIs and potentially shorter loan tenures, subject to loan terms and conditions.