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.
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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.
