Punjab National Bank cuts base rate by 25 basis points
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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Surprise Rate Cut
The Reserve Bank of India (RBI) lowered its policy repo rate by 25 basis points to 7.5 percent on Wednesday, its second inter-meeting cut this year on the back of easing inflation and what it said was the "weak state" of parts of the economy. Full Article