Private lender Yes Bank today announced it will hike its benchmark prime lending rate (BPLR) by 50 bps with effect from tomorrow."We are hiking our BPLR from 13.5% to 14% with effect from February 1," Rana Kapoor, MD & CEO, Yes Bank, said here today.This has been triggered by the Reserve Bank's announcement that it has hiked the repo rate from 7.25% to 7.50%.Another reason for the move is the increase in provisioning norms, while lending to certain sensitive sectors, Kapoor said.
