OREANDA-NEWS. July 14, 2011. Allahabad Bank, one of the premier nationalized Banks of the country, has decided to increase Base Rate by 25 basis points to 10.25% and Benchmark Prime Lending Rate (BPLR) by 25 basis points to 14.50% in view of present market scenario.

The Upward Revision in Base Rate and BPLR will be effective from 15thJuly, 2011.

The existing customers of the Bank will have the option to switch from BPLR to the Base Rate whenever they so desire for which no fee would be charged.

Allahabad Bank, currently celebrating 147th year of dedicated service to the nation, has been showing excellent growth in the past few years. Bank has a wide network of 2417 Branches pan India and also an Overseas Branch in HongKong. The Bank has planned to open 500 ATMs in the Financial Year 2011-12. The Bank has also planned to open more Branches Overseas-one each at Singapore, Shanghai, Dhaka (Bangladesh) and Kowloon (HongKong).