SBI to hike key lending rate by 70 bps to 14.85% from tomorrow

The State Bank of India (SBI), the country's largest public sector lender, will hike the benchmark prime lending rate (BPLR) by 70 basis points with effect from tomorrow (March 15). The 0.7% jump in the key lending rate will push it to 14.85%. SBI will also be raising its base rate by 70 bps to 10.10%, effective tomorrow.