Public sector lender, State Bank of Mysore has declared an interest rate hike of 25 basis points in its benchmark prime lending rate (BPLR) to 13.50%. The revised rates have come into effect from today, January 06, 2011.

"...The bank has revised the Bank's Prime Lending Rate (BPLR) upwards by 25 bps from 13.25 per cent per annum to 13.50 per cent per annum with effect from January 6, 2011," State Bank of Mysore said in a filing to Bombay Stock Exchange.

The rise in lending rates by the bank follows the same done by major lenders like ICICI Bank, Kotak Mahindra and Dhanlaxmi Bank amongst others.

Also, associate lender, State Bank of Travancore has raised lending rates with effect from Januaey 03.