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PNB hikes repo-linked lending rate by 15 bps to 6.8%, effective from Sept 1

The country's second largest lender Punjab National Bank (PNB) on Monday hiked its repo-linked lending rate (RLLR) by 15 basis points (bps) to 6.80 per cent.

Topics
Punjab National Bank | repo rate | Lending Rates

Press Trust of India  |  New Delhi 

PNB, Punjab national bank
The revised lending rates will be effective from September 1, PNB said in a regulatory filing

The country's second largest lender (PNB) on Monday hiked its repo-linked lending rate (RLLR) by 15 basis points (bps) to 6.80 per cent.

All new retail loans (housing, education, vehicle), credit to MSMEs are linked to RLLR.

Meanwhile, the state-owned lender has slashed its base rate by 10 bps to 8.80 per cent.

The revised will be effective from September 1, PNB said in a regulatory filing.

The RLLR has been changed from 6.65 per cent to 6.80 per cent with effect from September 1, 2020, it said.

The increase in the benchmark is expected to be followed by other lenders as well.

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First Published: Tue, September 01 2020. 00:11 IST
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