Following the last policy rate hike by regulator Reserve Bank of India, banks have started revising their base rates as well as BPLRs.

Lenders like Corporation Bank as well as Indian Overseas Bank have announced hike in their prime lending rates with effect from July 01, 2011.

Corporation Bank has raised its base rate by 35 bps taking it to 10.25% from 9.9% earlier.

IOB has allowed for a 25 bps rise in its lending rates. Its base rate now stands at 10.25% while its BPLR stands at 14.5%.

Karnataka Bank has also announced a rise in its base rate by 25 bps. The revised rates for the bank are to come to effect from today, July 04, 2011.

The base rate of the bank now stands at 10.50% while its BPLR remains unchanged at 15.25%.