Hello...
Bank rate is the rate charged by the central bank for lending funds to commercial banks. Description: Bank rates influence lending rates of commercial banks. ... Base rate is the minimum rate set by the Reserve Bank of India below which banks are not allowed to lend to its customers.
Achangeinbank ratesmay trigger a rippleeffect, as itimpacts everysphere of a country's economy. For instance, stock markets prices tend to react to unexpectedinterest rate changes. Achangeinbank rates affectscustomers as it influences primeinterest ratesfor personal loans.

Hope this helps you..
Regards!