Punjab National Bank increases lending rates by 15 basis points
Lending rate rise follow suit with India's largest bank SBI move
Taking a cue from India's largest bank State Bank of India, Punjab National Bank (PNB) revised its MCLR (marginal cost of funds-based lending rates) by 15 basis points (.15 per cent) across the board (see table).
The bank made this announcement in a statement to the stock exchanges.
|
PNB |
||
|
MCLR Tenor |
Existing |
effective March1,2018 |
|
Overnight |
7.65 |
7.80 |
|
1 month |
7.80 |
7.95 |
|
3 month |
7.95 |
8.10 |
|
6 month |
8.10 |
8.25 |
|
1 year |
8.15 |
8.30 |
|
3 years |
8.30 |
8.45 |
|
5 years |
8.45 |
8.60 |
New Executive Director
L V Prabhakar took charge as Executive Director of Punjab National Bank from 1 March 2018, a statement from the bank said.
Prabhakar has been appointed for a three-year tenure.
Prior to this, Prabhakar was with Allahabad Bank heading several important verticals such as IT, retail banking, priority sector lending, MSME, Financial Inclusion, HRD and risk management.
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