As a result of the amendment, the one-year MCLR has been increased from 7.55 per cent to 7.65 per cent. The overnight, one-month and three-month MCLR has been increased by 10 basis points to 7.05 per cent, 7.05 per cent and 7.15 per cent, respectively. The six-month and three-year MCLR of PNB rose to 7.35 per cent and 7.95 per cent, respectively.
On July 1, 2022, PNB increased its lending rate by 15 basis points based on its marginal cost of funds. The repo linked lending rate (RLLR) of the bank was kept unchanged at 7.40 per cent.
RBI monetary policy meeting
This weekend, reserve
(RBI) will announce its bi-monthly monetary policy statement. The central bank may once again increase the repo rate to deal with inflation.
other banks
many banks including
And Bank of India has revised its marginal cost-based lending rate (MCLR) with effect from August 1, 2022.