Punjab National Bank increases lending rates by 15 basis points

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. 

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.