Money & Banking

Kotak Mahindra Bank hikes base rate by 50 basis points

Our Bureau Mumbai | Updated on February 24, 2011

Kotak Mahindra Bank hiked its base rate and benchmark prime lending rate (BPLR) by 50 basis points.

On Thursday, Kotak Mahindra Bank announced it is increasing the base rate to 8.75 per cent (from 8.25 per cent) with effect from March 1.

All categories of loans (other than the exceptions permitted by RBI) will henceforth be priced with reference to the revised base rate, said a press release issued by the bank. Kotak Mahindra Bank also hiked its BPLR by 50 basis points.

Published on February 24, 2011

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