The Punjab National Bank has lowered base lending rate by 20 basis points (bps) to 9.15 percent.
From September 1, the new base rate will be effective.
PNB has said in a BSE filing that “Bank has reduced Base Rate by 20 BPS from 9.35 percent to 9.15 percent w.e.f. 01.09.2017.”
The bank has also lowered Marginal Cost of Funds Based Lending Rate (MCLR) by 20-25 bps with effect from September 1, 2017.