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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This business of notes is livelihood for hundreds in Old Delhi, with vendors charging a fee of up to 20 percent to replace damaged banknotes. A mildly damaged 500 rupee note, for instance, can be exchanged for 480 rupees, while a bundle of crisp, new 10 rupee notes valued at 1,000 rupees is priced at 1,050 rupees. Full Article