New Delhi, August 31: The country's second largest lender Punjab National Bank (PNB) on Monday hiked its repo-linked lending rate (RLLR) by 15 basis points (bps) to 6.80 per cent. All new retail loans (housing, education, vehicle), credit to MSMEs are linked to RLLR. Also Read | India's Core Industrial Output Down 10% in July Due COVID-19 Pandemic.

Meanwhile, the state-owned lender has slashed its base rate by 10 bps to 8.90 per cent. The revised lending rates will be effective from September 1, PNB said in a regulatory filing. Also Read | Realme V3 Smartphone Likely to Be Launched Tomorrow Alongside Realme X7 Series.

The RLLR has been changed from 6.65 per cent to 6.80 per cent with effect from September 1, 2019, it said. The increase in the benchmark is expected to be followed by other lenders as well.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)