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ICICI Bank hikes PLR

Our Bureau

MUMBAI, Aug. 2

ICICI BANK has taken the lead in hiking the PLR. The bank on Wednesday announced a hike in its tenor-linked PLR by 50-75 basis points across-the-board, effective August 3.

The 90-day PLR has been revised to 11.5 per cent from 11 per cent. The 91-361 days PLR has been hiked to 12.5 per cent from 11.75 per cent and that for one year and above has been raised to 14 per cent from 13.5 per cent.

The bank has kept deposit rates unchanged for the present.

According to banking circles, some public sector banks, including State Bank of India, may announce revision in the rates later in the week. Some banks, it is learnt, have already worked out the revision in rates but are waiting for SBI to take the lead.