Relief for loan Borrowers as Major Govt Banks Cut Rates
The country’s three major government banks have given good news to customers. These public sector banks—Punjab National Bank (PNB), Indian Bank, and Bank of India—have reduced their MCLR (Marginal Cost of Funds-based Lending Rate) by 5 basis points (bps) at the start of July. A cut of 5 basis points means an interest rate reduction … Read more