Punjab National Bank (PNB), the country’s second-largest state-owned lender, on Monday said it has reduced its repo-linked lending rate (RLLR) by 40 basis points (bps) to 6.65 per cent from 7.05 per cent. The bank’s marginal cost of funds-based lending rate (MCLR) has also been revised downwards by 15 bps across all tenors.