PNB, IOB cut lending rates by 75 basis points

State-owned banks Punjab National Bank (PNB) and Indian Overseas Bank on Tuesday announced reduction in their lending rates linked to the repo rate by 75 basis points, effective April 1. This follows last week's decision by the RBI to cut the repo rate by 75 bps. Most of the public sector banks have

BY Realty Plus
Published - Wednesday, 01 Apr, 2020

PNB, IOB cut lending rates by 75 basis points

State-owned banks Punjab National Bank (PNB) and Indian Overseas Bank on Tuesday announced reduction in their lending rates linked to the repo rate by 75 basis points, effective April 1. This follows last week's decision by the RBI to cut the repo rate by 75 bps. Most of the public sector banks have passed on the benefit of the repo rate cut to their customers.