INVC,,
Delhi,,
- As a sequel to the monetary measures undertaken by the Reserve Bank of India in the recent past and to cope with the changing market scenario, Punjab National Bank has increased its Base Rate to 9% p.a.
- Decision to hike base rate was taken by the ALCO today for better transmission of high interest rates prevailing in the debt/money markets. This measure will also partially offset the effect of hike in deposit rates effected by the bank during the past couple of months.
- With the current hike in Base Rate, the lending rates linked to Base Rate would go up accordingly. Only 22% of the loan book is under Base Rate.The revision in Base Rate would be effective from 13.12.2010
