Business - Briefly

Two banks raise NRE, PLR rates

MANGALORE: Corporation Bank has raised the rate of interest offered on NRE term deposits from July 1. The rate on deposits has been revised to 3.31 per cent per annum (3.16 per cent) for one year to less than two years, 3.60 per cent (3.46 per cent) for two years to less than three years and 3.95 per cent (3.81 per annum) for three years to ten years. Karnataka Bank has raised its benchmark prime lending rate by 50 basis points to 14.50 per cent from 14 per cent with effect from July 1. — Staff Correspondent

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