After most of the lenders have increase their lending rates considering the hike of 50 basis points in the policy rates by The Reserve Bank of India last month, Public Sector lender State Bank of Bikaner and Jaipur has also hiked its key lending rates.
The lender has increased its base rates by 50 basis points which now stand at 10.25%, the bank has also increased BPLR by 25 basis points and it now read 15.00%.
The Managing Director of the bank Mr. Shiva Kumar said "Even after this increase, the base rate of SBBJ was amongst the lowest in the public sector. Most of the public sector banks have their base rate already increased to 10.75%, which is 50 bps more that that of SBBJ."
The revised rates are effective from 10th August.