The scam-hit Punjab National Bank (PNB) on Thursday raised its lending rate by 15 basis points to 8.30 per cent with immediate effect. PNB also increased its retail rate by up 45 basis points on various maturities.
The move comes on the same day when industry leader SBI and the largest private sector bank, ICICI Bank, increased lending rates by up to 20 basis points.
The move will increase equated monthly instalments (EMIs) for home, car loans for its customers.