PNB to raise interest rate following 40 basis points repo rate increase by RBI

New Delhi [India], May 12 (ANI): Punjab National Bank (PNB) is set to increase interest rates following the hike in policy repo rate by the Reserve Bank of India, PNB Managing Director and Chief Executive Officer Atul Kumar Goel said on Thursday.
Responding to a question at a virtual press briefing, Goel said the bank will soon raise the repo linked lending rates.
“With 40 bps rise in repo rate by RBI, the same quantum in raise in lending rates will be there. So there will be some increase in the loan rate for sure,” Goel said. (ANI)