SBBJ hikes lending rates by 50 bps

State Bank of Bikaner and Jaipur (SBBJ),a subsidiary of State Bank of India,today announced a hike of 50 basis points in lending rates with effect from November 14.

The bank’s revised base rate will now be 10.50 per cent and the BPLR will be 15.25 per cent per annum,SBBJ said in a filing to the BSE.

The move comes after the Reserve Bank of India in its mid-year monetary policy last month hiked short-term lending (repo) rates by 25 basis points.

Shares of the lender today fell by 1.52 per cent to close at Rs 384.80 on the BSE.