MUMBAI, July 31 (Reuters) - India's state-run lender Punjab National Bank said on Saturday it would raise its benchmark prime lending rate (BPLR) by 75 basis points to 11.75 percent from Sunday.
The lending rate revision by Punjab National Bank comes after India's central bank on Tuesday raised interest rates more forcefully than expected to fight inflation.
Punjab National Bank said it would also increase its term rates by 25-75 basis points on select deposits with effect from Sunday.
(Reporting by Ketan Bondre; editing by Jonathan Thatcher)
((ketan.bondre@thomsonreuters.com; +91 22 6636 9027, Reuters Messaging: ketan.bondre.thomosonreuters.com@reuters.net)) Keywords: INDIA PNB/RATES
(If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)
COPYRIGHT
Copyright Thomson Reuters 2010. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.