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Punjab National Bank to cut lending rates by 10 bps on 1 March

Thursday, February 28, 2019, 12:58 PM

State-owned Punjab National Bank (PNB) said it will reduce the MCLR by 0.10 percentage point for various tenor loans from March 1. There is a reduction in the MCLR with effect from March 1, 2019, PNB said in a regulatory filing. The one-year tenor loans, against which most of the consumer loans are benchmarked, has been cut to 8.45% from 8.55%.
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RBI allows one-time recast of standard MSME accounts

Wednesday, January 2, 2019, 7:35 AM

The Reserve Bank of India (RBI) on Tuesday offered a new year gift to micro, small and medium enterprises (MSMEs) by allowing a one-time restructuring of existing loans that are in default but "standard" as on January 1. The facility could provide a timely support to scores of MSMEs hit by the double whammy of note ban and GST.
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Karnataka Bank revises up 1-year MCLR by 0.15%

Tuesday, January 1, 2019, 10:24 PM

Private sector lender Karnataka Bank on January 1 said it has revised upward MCLR by 0.15 percent to 9.10 percent for one-year tenor. The revised marginal cost of fund-based lending rate (MCLR) are effective from January 1, 2019, the bank said in a regulatory filing. One-month and overnight MCLRs were also raised by 0.10 percent each, the bank said.

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