Two public sector lenders, Union Bank of India (UBI) and Oriental bank of Commerce (OBC), today hiked their lending rates by 25 basis points.
Post hike, the base rate or the minimum lending rate of UBI stands at 10.25%, the bank said in a filing to the Bombay Stock Exchange.
Further the base rate of OBC would be 10.25%. Also the benchmark prime lending rate (BPLR) has been raised to 14.50%, from 14.25%.
While the rate hike for OBC is effective from tomorrow, that is UBI is with immediate effect.
Last week country's largest lender State Bank of India (SBI) had hiked lending rates by 25 basis points and raised deposit rates by up to 100 basis points.
Also three PSU banks-- Andhra Bank, State Bank of Bikaner & Jaipur and Bank of Mysore -- had hiked lending rates by 50 basis points.