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Which bank has hiked its external benchmark linked lending rate by 0.40 percent to 6.90 percent with effect from 1 June 2022?

Which bank has hiked its external benchmark linked lending rate by 0.40 percent to 6.90 percent with effect from 1 June 2022? Correct Answer ​Punjab National Bank (PNB)

The correct answer is ​Punjab National Bank (PNB).

Key Points

  • Punjab National Bank (PNB) has hiked its external benchmark linked lending rate by 0.40 percent to 6.90 percent with effect from 1 Jun'22.
  • For new customers, the revised Repo Linked Lending Rate will be effective from May 7.
  • PNB also increased the savings deposit rates for various tenors.
  • For term deposits of less than Rs 2 crore, it has raised the interest rates to up to 5.10-5.15 percent.

Additional Information

  • ​Punjab National Bank is an Indian Public sector bank.
  • It is under the ownership of the Ministry of Finance, government of India.
  • The bank was founded in May 1894 and is the second largest government-owned bank in India, both in terms of its business volumes and its network.
  • ​Punjab National Bank (PNB)​:
    • CEO: Atul Kumar Goel (1 Feb 2022–)
    • Headquarters: New Delhi
    • Founder: Dyal Singh Majithia
    • Founded: 19 May 1894, Lahore, Pakistan

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