Central Bank of India announced on Saturday that it has decided to trim down its lending rates by 0.75 per cent with effect from Monday. Under the latest modification, the Central Bank's current benchmark prime lending rate (BPLR) stands at 12.5%.

Reacting to RBI's policy signals, a majority of public sector lenders including, State Bank of India (SBI) and Bank of India, and private sector bankers ICICI Bank, had cut down their lending and deposit rates in the recent past.

According to sources, SBI slashed its BPLR a 0.75 per cent and deposit rates by 0.25 per cent, while ICICI Bank reduced its lending and deposit rates by 0.5 per cent.

Other lenders who have also trim down their interest rates are Bank of Baroda, Union Bank of India, HDFC and Bank of Rajasthan.