State Bank of Mysore cuts Base Rate, BPLR

Revised base rate is 10.15%, against 10.25% earlier, while the BPLR is 15%, against 15.25% earlier

State Bank of Mysore has cut the Base Rate by 10 basis points and the Benchmark Prime Lending Rate by 25 bps  with immediate effect, the bank said in a press release on the Bombay Stock Exchange.

The revised Base Rate is 10.15 per cent, against 10.25 per cent earlier, while the BPLR is 15 per cent, against 15.25 per cent earlier.

Base Rate is the rate below which banks cannot lend. Floating rate loans will now be cheaper following the cut.