Bank of Baroda (BoB) hikes BPLR by 50 bps

New Delhi, Jan 2: Bank of Baroda (BoB) has announced a hike in its Benchmark Prime Lending Rate (BPLR) by 0.5 per cent from existing 11.50 per cent per annum to 12 per cent per annum with effect from yesterday.

The bank's move follows many other PSU and private sector banks which raised their lending rates after the central bank announced last month that it was increasing the proportion of deposits that banks were required to keep in cash.

UNI