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Article: PNB slashes PLR by 50 basis points to 11 per cent.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- April 30, 2009
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PNB slashes PLR by 50 basis points to 11 per cent
New Delhi, Apr 30 (PTI) The country's second-largest public sector lender, Punjab National Bank, today slashed benchmark lending rate by 50 basis points to 11 per cent, a move that will benefit millions home, consumer and corporate loan borrowers.
The Benchmark Prime Lending Rate (BPLR) has been slashed from 11.5 per cent to 11 per cent effective tomorrow, the bank said in a statement.
The announcement comes after a week the RBI reduced short-term policy rates by quarter percentage.
The bank has cut interest rate on personal loan by 50 basis points and floating home loan would become ...