HomeBusinessPNB Reduces RLLR To 6.55% From 6.80%, Stock Sheds Over 4%

PNB Reduces RLLR To 6.55% From 6.80%, Stock Sheds Over 4%

Punjab National Bank Reduces Repo-Linked Lending Rate To 6.55%

Shares of Punjab National Bank shed greater than 4 cent as we speak

Punjab National Bank as we speak slashed its repo linked lending fee (RLLR) to six.55 per cent from 6.80 per cent. Shares of the general public sector financial institution shed greater than 4 per cent on Friday, September 17, a day after the federal government authorized extending a assure of Rs 30,600 crore to the National Asset Reconstruction Company Limited (NARCL) to assist clear the banking sector’s harassed belongings. 

Punjab National Bank opened on the BSE at Rs 42.20, registering an intra day excessive of Rs 42.80 and an intra day low of Rs 39.35, within the buying and selling session to this point. The financial institution’s repo linked lending fee is decreased t 6.55 per cent with impact from September 17, 2021, in accordance with a regulatory alternate by PNB to the inventory exchanges as we speak. 

The lender’s RLLR was modified to six.80 per cent to six.65 per cent with impact from September 1, 2020, in accordance with its official web site. All its floating fee private or retail loans (on housing, auto and so forth.) in addition to floating fee loans to the Micro, Small and Medium Enterprise (MSME) loans had have the mark-up of two.55 per cent from September 17, 2020. It will reset after three years from the date of sanction.

In case of current floating fee private or retail loans and floating fee loans to MSME loans between September 1-September 16 will proceed with the prevailing mark up of two.80 per cent. 

On the NSE, Punjab National Bank opened at Rs 42.70, touching an intra day excessive of Rs 42.75 and an intra day low of Rs 39.35, within the session to this point.

Shares of Punjab National Bank have been final buying and selling 4.19 per cent decrease at Rs 40.05 apiece on the BSE.

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