Public sector lender, Corporation Bank has declared a rise in its benchmark prime lending rate (BPLR) by as much as 25 basis points. The BPLR of the bank now stands at 13.25%.

The bank raised its BPLR following policy rate hike by Reserve Bank of India by 25 bps in the recent review of monetary policy.

BPLR refers to the rate at which banks lend out to credit worthy customers. The BPLR has however been taken over by base rate with effect from July 1, 2010.

In the base rate system of lending, no bank is allowed to lend below its prime lending rate (PLR).