BANKS RAISE BASE RATES, BPLR

Indian Bank has raised base rates by 50 basis points to 8.5 percent, with effect from Oct.1.

It has also raised benchmark prime lending rate by 25 basis points to 12.75 percent.

Indian Overseas Bank also said it has raised base rate and BPLR by 25 basis points to 8.5 percent and 12.75 percent respectively, excluding housing loans, with effect from Oct. 1.

Earlier, IDBI Bank , Axis Bank and Punjab National Bank raised base rates.

Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/Banks-raise-base-rates-BPLR/articleshow/6666779.cms