Bank of Baroda slashes base rate and Benchmark Prime Lending Rate by 0.35%

Bank of Baroda on Thursday announced revision of base rate and Benchmark Prime Lending Rate (BPLR). 

As per the new rates, base rate will be 9.15% per annum as against existing 9.50% per annum and BPLR will be 13.45% per annum as against 13.80% per annum, the bank said in a regulatory filing

The revised rates will be effective from October 1. 

Base rate stands for the minimum rate below which a bank cannot lend while BPLR is the rate at which commercial banks charge their customers who are most credit worthy. 

The shares of the bank closed at Rs 138.90 per piece, down 0.22% or Rs 0.30 on BSE.