Large govt banks to announce base rate this week

Some of the large government banks are expected to announce their base rate this week.

While State Bank of India is expected to announce its rate by tomorrow, Punjab National Bank is likely to announce its tentative base rate later this week. Another large public sector lender, Union Bank of India, which earlier indicated its base rate will be between 8.25 and 8.5 per cent, will also announce the rate in this week. Bank of Baroda, which may keep its base rate at 8-8.25 per cent, is likely to announce it next week, once its board meets.

At present, PNB’s benchmark prime lending rate is the lowest among all banks, a distinction the bank may not enjoy any more in the base rate regime. SBI, the largest lender, is expected to have the lowest base rate.