Punjab & Sind Bank raises lending rates by 25 bps

New Delhi: State-run lender Punjab & Sind Bank on Thursday hiked its minimum lending rate or base rate by 25 basis points to 10.25 per cent.

The city-based bank has also hiked its benchmark prime lending rate (BPLR) to 14.75 per cent from 14.50 per cent with immediate effect, PSB said in a filing to the Bombay Stock Exchange (BSE).

Further, the bank has also paid a dividend of Rs 36.61 crore to the government for the financial year 2010-11.

Shares of PSB closed at Rs 100.80, down 0.35 per cent from previous close on the BSE.

Source: Financial Express