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Following the 50 basis points increase in the repo rate and the savings bank rate by the Reserve Bank of India, Bank of India and Bank of Baroda have decided to increase their Base Rate from 9.50 per cent to 10 per cent.
And the Benchmark Prime Lending Rate (BPLR) from 13.75 per cent to 14.25 per cent with effect from May 6.
Punjab & Sind Bank has changed its Base Rate from 9.50 per cent to 10 per cent and BPLR from 14.25 per cent to 14.50 per cent with effect from Thursday.
Kolkata-based Allahabad Bank on Thursday decided to raise its Base Rate and BPLR by 50 basis points to 10 per cent and 14.25 per cent respectively.
Existing customers of the bank have the option of switching over from BPLR to the base rate.
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