Canara Bank, the state-owned lender, has cut
base rate and benchmark prime lending rate (BPLR) by 0.25 percentage points each to 10.50 per cent and 14.75 per cent, respectively.
The new rates will be effective Tuesday.
The deposit rates also stand reduced by 0.1 to 0.50 percentage points under select maturities, the city-based bank said in a statement.
The
bank has decided to effect an additional reduction of 0.25 percentage points in all agricultural term loans.
"This move is aimed at encouraging investments in rural godowns, cold storages, farm mechanisation, minor irrigation and allied activities," it said.
"The
special concession is extended to existing as well as new farmer borrowers," it added.
Special 
