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Andhra Bank hikes base rate

Andhra Bank hikes base rate

Andhra Bank raised its base rate by 25 basis points to 10.25 per cent from 10 per cent. Further, the state-run bank raised BPLR to 14.50 per cent from 14.25 per cent.

In a communication to stock exchange, the bank said the rate hike would effectively raise lending rates for auto, corporate and other loans.

Earlier, Yes Bank and HDFC Bank have increased their base rates after the status-quo monetary policy review of RBI last month.

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