Oriental Bank raises base rate, BPLR by 50 bps each

MUMBAI: State-run lender Oriental Bank of Commerce said on Wednesday it has raised its base rate and benchmark prime lending rate by 50 basis points each to 10 percent and 14.25 percent, respectively, effective May 5.

On Tuesday, the Reserve Bank of India raised interest rates by a sharper-than-expected 50 basis points, and said fighting inflation was top priority, even at the expense of short-term growth.

Source: EconomicTimes