Mumbai: Leading public sector bank in the country, Punjab National Bank (PNB) has increased the Repo Linked Lending Rate (RLLR). The public sector lender informed a hike of 25 basis point in its RLLR. After this hike, the RLLR stood at 9%.
The decision was taken against the backdrop of the Reserve Bank of India’s decision to increase the repo rate by 25 basis points to 6.50%. From May 2022, the central bank has revised repo rates 5 consecutive times to reduce inflation.
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Repo Linked Lending Rate (RLLR) is an external benchmark linked to RBI’s Repo Linked Lending Rate.
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