SBI Revises Benchmark Prime Lending Rate to 12.75%

The country's largest Bank - State Bank of India (SBI) has revised upwards the Benchmark Prime Lending Rate (referred as SBAR) as under:

Benchmark Prime Lending Rate (referred to as SBAR) is revised upwards by 50 bps from 12.25% p.a. to 12.75% p.a. with effect from April 09, 2007.

The banks have been increasing the interest rates in the past few days after RBI announced tighter regime to control inflation and reduce credit off-take. Several Banks including, ICICI Bank, Punjab National Bank and others have increased the interest rates.

Shares of the bank were trading at Rs.979, up by Rs.31.05 or 3.28% on volume of 128021 shares compared to 2 week average quantity of 467218. The stock had hit an intraday high of Rs.983 and low of Rs.948.60.

Source : Equity Bulls

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