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Punjab National Bank cuts BPLR by another 1 percent
- Filed under: Bank, Interest Rates
- Date: Nov 26,2008
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Punjab National Bank which is the one normally cuts the rate when RBI cuts the crr or lending percentage has even done it again ,Think PNB would be the one who would be lending it for the lowest now.They have decided to reduce the BPLR by 100 bps from 13.50% p.a. to 12.50% with effect from December 01, 2008.They have also cut down the deposit interest rate from 10.50 percent p.a. to 9.50 percent p.a. for deposits of 1 year to less than 3 years.
