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Our Bureau

Mumbai, Dec. 29

Bank of Baroda has hiked its benchmark prime lending rate by 50 basis points to 12 per cent with effect from January 1, said a press release from the bank. Prior to this, the bank had hiked its PLR to 11.5 per cent in August 2006.

Other banks that have hiked their PLR this month are State Bank of India, Punjab National Bank, Oriental Bank of Commerce, ICICI Bank and HDFC Bank. With the RBI increasing the CRR to 5.25 per cent, many banks have raised PLR.

More Stories on : Interest Rates | Public Sector Banks

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