PNB loan rate cut, Dec. 7 -- State-owned Punjab National Bank (PNB) has said it lowered its Repo Linked Lending Rate (RLLR), a day after the Reserve Bank of India (RBI) cut the repo rates by 25 basis points.

In a stock exchange filing on Saturday, December 6, PNB informed that it was revising its RLLR effective immediately. PNB RLLR was cut down from 8.35% to 8.10%, including a BSP of 10 basis points, it said.

However, the Marginal Cost of Lending Rate (MCLR) and Base Rate of PNB remain unchanged.

The PNB rate cut came a day after the RBI cut its repo rates by 25 basis points during its bimonthly MPC meeting on Friday.

The six-member monetary policy committee, led by RBI Governor Sanjay Malhotra, voted unanimously to lower the repurch...