Punjab National Bank cuts base rate by 25 basis points

Thu Jan 31, 2013 12:37pm IST

A bank counter is seen in Mumbai January 25, 2008. REUTERS/Punit Paranjpe/Files

A bank counter is seen in Mumbai January 25, 2008.

Credit: Reuters/Punit Paranjpe/Files

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REUTERS - State-run lender Punjab National Bank (PNBK.NS) on Thursday said it would cut its base rate by 25 basis points to 10.25 percent from February 9.

Earlier this week, the Reserve Bank of India cut the repo rate by 25 basis points to help support an economy set to post its slowest annual growth rate in a decade.

On Wednesday, the State Bank of India cut its base rate by 5 basis points.

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