LATEST NEWS

Punjab National Bank cuts base rate by 25 bps to 10.25%

New Delhi: India's second largest state-run lender Punjab National Bank Thursday cut its base rate -- benchmark for pricing all loans -- by 25 basis points to 10.25%, after the Reserve Bank of India cut its key policy rate for the first time in nine months earlier this week.

The bank's base rate cut will be effective from February 9, 2013, Punjab National Bank said in a filing to the stock exchanges.

Earlier Tuesday, the RBI cut the repo rate by 25 basis points to 7.75% to support the faltering economy and reduced the cash reserve ratio (CRR) by the same amount to 4% to boost liquidity in the system.

India's largest lender State Bank of India also cut its base rate by 5 basis points to 9.7% on Wednesday, while state-run IDBI Bank and foreign lender Royal Bank of Scotland pared their base rate on the day of the RBI's monetary easing.

The country's second largest private sector lender HDFC Bank cut lending rates by up to 50 basis points for auto segment earlier Wednesday.

Copyright Contify.com

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.

DON'T MISS

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    24.35-0.45-1.81%
    SPICEJET.BO
    21.70-0.35-1.59%
    SUZLON.BO
    58.00-2.00-3.33%
    HDIL.BO
    88.75-1.80-1.99%
    ASHOKLEY.BO
    57.60-2.70-4.48%
    RCOM.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    22.20+3.70+20.00%
    YOGYA.BO
    124.90+18.80+17.72%
    CHORDIA.BO
    48.30+6.00+14.18%
    CEEJAY.BO
    1,168.00+139.85+13.60%
    HDFCBANK6.BO
    15.40+1.55+11.19%
    CHANDRAP.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    17.00-3.25-16.05%
    FEINDIALTD.BO
    13.15-1.80-12.04%
    PAEL.BO
    14.75-1.90-11.41%
    MKEXIM.BO
    67.50-8.65-11.36%
    RJL.BO
    1,800.00-225.00-11.11%
    RELBANK.BO
  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.

    Yahoo Cricket