Allahabad Bank on Tuesday has decided to cut its base rate and benchmark prime lending rate (BPLR) by 30 basis points, effective from Jun. 8, 2015.

Consequently, the base rate will be reduced to 9.95% from existing 10.25% and BPLR of the bank will be reduced to 14.20% from existing 14.50% with effect from Jun. 8, 2015.   

Shares of the bank declined Rs 6.45, or 6.05%, to trade at Rs 100.10. The total volume of shares traded was 395,362 at the BSE (2.53 p.m., Tuesday).