Public sector lender, Oriental Bank of Commerce, has announced a rise in its prime lending rates (both BPLR and base rate).

The lender has introduced a 50 bps rise in its BPLR as well as base rate taking them to 14.25% and 10% respectively.

The new rates are coming to effect from today, May 05, 2011.

The rate hike comes as a follow up of the policy rate hike announced by Reserve Bank of India in the annual monetary policy for this fiscal.