PNB to hike lending rate by 50 bps

A final decision in this regard will be taken by the end of this month at the bank's asset management liability committee (ALCO) meeting.

"We will take a final call by the end of this month. If the present scenario persists, we will have to hike the PLR by 50 basis points," said K C  Chakrabarty,  chairman and managing director, PNB on the sidelines of a function at Chakla village in North 24- Parganas.

He also said, "The deposit rate will also be hiked in a similar fashion on account of higher inflation rate, which is making the real interest rate almost negative."