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PNB Cuts One-Year MCLR By 0.05 %

The six-month and three-month tenor MCLRs were cut by 0.10 per cent each to 7 per cent and 6.80 per cent

Photo Credit : Reuters

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State-run Punjab National Bank (PNB) on Monday said it has reduced its benchmark one-year marginal cost of funds-based lending rate by 0.05 per cent to 7.30 per cent. The marginal cost of funds-cased lending rate (MCLR) will come to effect from June 1, 2021, the bank said in a regulatory filing.

The six-month and three-month tenor MCLRs were cut by 0.10 per cent each to 7 per cent and 6.80 per cent, respectively.

The overnight, one-month and three-year MCLRs have been kept unchanged.

PNB stock closed 0.47 per cent up at Rs 42.40 apiece on BSE.

(PTI)


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MCLR Punjab National Bank (PNB)