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Business News » Companies News

PNB raises benchmark lending rate by up to 0.2 pc

Punjab National Bank (PNB) Saturday increased its benchmark lending rates or MCLR for the short-term loans by up to 0.2  per cent . 

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PNB raises benchmark lending rate by up to 0.2 pc
With the revision overnight Marginal Cost of Funds Based Lending Rate (MCLR) stands at 8.2 per cent as against 7.9 per cent, PNB said in a filing on stock exchanges. Image source: Reuters
Written By: PTI
Updated: Sat, Sep 29, 2018
07:36 pm
PTI
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Punjab National Bank (PNB) Saturday increased its benchmark lending rates or MCLR for the short-term loans by up to 0.2 per cent. With the revision overnight Marginal Cost of Funds Based Lending Rate (MCLR) stands at 8.2 per cent as against 7.9 per cent, PNB said in a filing on stock exchanges.

The MCLR for a one-month tenor increased to 8.10 per cent from 8.05 per cent earlier. The new rates are effective from October 1. 

The rate hike comes ahead of monetary policy review announcement on October 5.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

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