All the big public sector banks announced their base rate—their benchmark rate below which they can't lend. The base rate replaces the opaque benchmark prime lending rate (BPLR). This base rate will include the bank's cost of funds and cost of running the bank. State Bank of India (SBI) said its base rate is 7.5% while Punjab National Bank (PNB), Bank of Baroda (BoB), Union Bank, Central Bank of India, Bank of Rajasthan, Indian Bank,UCO Bank, IDBI Bank and Indian Bank announced that their base rate will be 8%. Dhanlaxmi Bank has set base rate at 7% while Federal Bank has set it at 7.75%. So how this new rate going to impact banks and customers? CNBC-TV18’s Latha Venkatesh and Gopika Gopakumar report.Banks announce base rates;...