Public sector lender Canara Bank has announced a 50 bps rise in its lending rates. The revised rates are to come to effect from August 01, 2011.

The base rate of the bank has increased to 10.75% from 10.25% earlier.

Also the benchmark prime lending rate (BPLR) has been raised by the same amount to 15% now from 14.50% earlier.

Along with this the lender has raised fixed deposit rates in the range of 25 to 150 bps across different maturities.

The rate hike by the lender comes as a follow up of the recent policy rate hike by regulator Reserve Bank of India.