Kotak Mahindra Bank raises base rate, BPLR

Kotak Mahindra Bank has revised its base rate and benchmark prime lending rate (BPLR) by 50 basis points each. The bank’s base rate would now be 9.25 per cent and BPLR would be 18 per cent, effective from Tuesday. The bank also raised interest rates on term deposits by 25-50 basis points across various maturities with the peak rate at 9.75 per cent.