Public sector lender, Corporation Bank has raised base rate by 50 basis points. The base rate of the bank now stands at 8.25% with effect from November 8, 2010.

The upward movement of base rate will make corporate, home and auto loans dearer by atleast 50 bps.

Base rate is expected to be raised by other banks too owing to the recent policy rate hike by RBI.

The policy rate hike by RBI is the sixth hike this year by the bank to tame the towering inflation figures.