State Bank of Mysore hikes PLR to 12 pc

New Delhi, Dec 29: State Bank of Mysore today nnounced a hike in its Bench-Mark Prime Lending Rate (BPLR) from existing 11.5 per cent to 12 per cent.

The increase is applicable from December 28, 2006.

The central bank has increased the cash requirement in two 25-basis point stages, on December 23 and January 6. In response, the banks have also raised their lending rates by 150 to 200 basis points this year to protect their net interest margins.

Country's largest lender State Bank of India, revised its PLR from 11.50 per cent per annum to 11.75 per cent per annum from January 1, 2007.

UNI