Public sector lender Dena Bank has cut its prime lending rate (PLR) by 0.75

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per cent with effect from November 10, a top bank official said today.

"We have cut our PLR by 0.75 per cent to 13.50 per cent with effect from the coming Monday," Dena Bank Chairman and Managing Director P L Gairola told PTI here.

The bank has also decided to trim its deposit rates, he said.

"We have also decided to cut our peak deposit rates by 0.50 per cent. This will be effective from November 17," Gairola said.

Accordingly, the peak interest rate (on deposits) will stand reduced from 10.25 per cent to 9.75 per cent.