Private sector lender, Karur Vysya Bank has announced a rise in its base rate as well as benchmark prime lending rate (BPLR) each by 50 basis points.

The base rate of the bank now stands at 10% while BPLR counts to 15%.

The new rates have come into effect from today, February 07, 2011.

The step taken by the bank comes in line with the policy rate hike by Reserve Bank of India recently. The RBI raised repo and reverse repo rates by 25 bps in the recent review of monetary policy.

The bank's move comes as a follow up of steps of similar nature taken by Indian Bank, Indian Overseas Bank, Bank of India, Dena Bank and HDFC Bank.