SBBJ raises lending rates by 50 bps

Jaipur: State Bank of Bikaner and Jaipur (SBBJ), a subsidiary of State Bank of India, raised both its lending rates by 50 basis points with effect from July 11.

The bank's revised base rate is now 9.75 per cent and the BPLR is 14.75 per cent per annum, a statement released by SBBJ said.

The announcement comes close on heels of SBI and private lenders ICICI Bank, Dhanlaxmi and Axis Bank, among others, raising their base rates. More banks are also likely to follow suit in a couple of days.

Source: Financial Express