Corporation Bank raises base rate to 8.90%

State-run lender, Corporation Bank, has informed BSE that the Bank has revised the Base Rate for lending from 8.25% pa to 8.90% pa with effect from January 03, 2011.

Corporation Bank last revised its rates raising its Benchmark Prime Lending Rate by 25 basis points to 13%.

The bank had last raised its Base Rate in November to 8.25%, Bombay Stock Exchange data showed.

The shares are trading at Rs 640 up 0.15% at 12: 25 pm on the Bombay Stock Exchange.