Sundaram BNP Paribas Home Finance, the home finance subsidiary of Sundaram Finance, has announced an increase of 25 basis points in its prime lending rate (PLR) with effect from September 1.

According to Srinivas Acharya, Managing Director of the company, the increase in PLR rate has been driven by the tight liquidity conditions in the market, and an increase in borrowing costs of the company.

This report has been corrected for a factual error