The Hyderabad based lender, Andhra Bank has reduced its base rate by 25 basis points from 10.50 per cent to 10.25 per cent.
The new base rate will be effective from March 1, 2013, according to a press release.
The bank has also revised its BMPLR by 25 basis points. The new rate will be 14.50 per cent from 14.75 per cent.
Andhra Bank is planning to increase its focus on agricultural, micro, mini and small enterprises segment and aims to augment lending under these heads.
On the matter, the Chairman and Managing Director of Andhra Bank, Mr. B. A. Prabhakar said that these two segments has been recognized as priority business segments by the bank due to the huge growth potential in these sectors. Also, the bank has managed to keep non-performing assets under control for these two segments.