Soon after hiking its marginal cost of funds-based lending rates (MCLR) by up to 25 basis points (bps), the State Bank of India \u2013 India's largest bank \u2013 has increased its base rate (BR) and benchmark prime lending rate (BPLR) by 5 bps with effect from April 1, 2018. While its base rate has been increased from 8.65% to 8.70% per annum, its BPLR has been increased from 13.40% to 13.45% per annum. On the other hand, Allahabad Bank has announced reduction in its lending rates with effect from April 2, 2018. While it has lowered its base rate to 9.15%, its BPLR has been cut to 13.40% from 13.85 per annum. This seems to be both bad and good news for customers. While SBI loans may become costlier going ahead, the EMIs may come down in the case of Allahabad Bank for its loans linked to the base rate. Some industry experts, however, said that the current changes in the base rates do not seem to be aimed at making the loans costlier or cheaper. Instead banks seem to be aliening their base rates to their MCLR as both are slated to be linked now, as per the RBI policy. That is why while some banks are increasing their base rates, some are reducing them.