SBH cuts base rate by 5 bps, BPLR by 10 bps

Bank reduced its base rate to 10.20% from 10.25%, BPLR to 14.90% from 15% with effect from Feb 11

State Bank of Hyderabad (SBH), an associate bank of the State Bank of India, has cut down its base rate by 5 basis points (bps) and  benchmark prime lending rate (BPLR) by 10 bps.

The bank has reduced its base rate to 10.20% from the previous 10.25%, and BPLR to 14.90% from 15% with effect from February 11, according to a SBH release.

Following the recent announcement of reduction in repo rate as well as cash reserve ratio by RBI, the Asset Liability Committee of SBH met in Hyderabad on February 6 to revise the base rate. In view of changing interest rate environment, liquidity in the system and other macroeconomic fundamentals in the economy, SBH has realigned its interest rate from time to time.