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Mangalore, April 1

Corporation Bank has informed the BSE that its benchmark prime lending rate - Corporation Bank Benchmark Advance Rate (COBAR) - has been reduced by 50 basis points with effect from April 1. It said that COBAR has been reduced to 12 per cent from 12.5 per cent with effect from April 1. COBAR was last revised on January 1; it was reduced to 12.5 per cent from 13.25 per cent. - Our Bureau

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