Punjab National Bank (PNB) said in the regulatory filing on Monday that it has reduced its benchmark one-year marginal cost of funds-based lending rate (MCLR) by 0.05% to 7.30%.
The marginal cost of funds-based lending rate (MCLR) will come to effect from June 1, 2021, the bank said.
The bank said in a regulatory filing, the six-month and three-month tenor MCLRs were cut by 0.10% each to 7% and 6.80%, respectively.
The overnight, one-month and three-year MCLRs have been kept unchanged, it added.
Punjab National Bank ended at Rs41.65, down by Rs0.75 or 1.77% from its previous closing of Rs42.40 on the BSE. The scrip opened at Rs42.55 and touched a high and low of Rs42.65 and Rs41.10 respectively.