PNB Bank Archives - Talk To Iconic

PNB Bank increased interest rates on FD, check new rates

One of the biggest public sector banks in the nation, Punjab National Bank, also known as PNB, has decided to raise the interest rates on its fixed deposits. As of today, these increased rates are in effect. A 30-basis-point increase has been made by PNB to these rates.

PNB Bank increases interest rates on other loans, including home loans, check new rates

PNB Interest Rates: A shocking development has occurred amid rising inflation. In case you are a PNB customer and you have taken a home loan or any other loan in the past, this news is very important to you.

After Punjab National Bank, now PNB Housing Finance (PNB Housing) has increased interest rates on loans. In this case, PNB Housing increased the interest rate by 35 basis points, i.e. 0.35 percent, on retail loans and home loans. Rate changes came into effect today, May 9.

Under PNB Housing, customers get a loan both for building and buying a home. It includes both retail and corporate stakes. Customers will now have to pay more EMI for this. In addition, new borrowers will have to pay higher interest rates. PNB Bank had also increased its interest rates earlier.

PNB Housing gave information

PNB Housing has provided detailed information about this. Accordingly, the new interest rates are applicable on different dates. From May 7, 2022, RLLR will apply to new customers. Additionally, the RLLR for existing customers will be 6.90 percent as of June 1, 2022.

The PNB also raised interest rates earlier. In this case, the interest rate has been increased by 0.40 percent to 6.90 percent. PNB has informed the stock market that from June 1, 2022, the RLLR for existing customers will increase from 6.50 percent to 6.90 percent.

RBI hikes repo rate

On May 4, the RBI increased the repo rate from 4 percent to 4.40 percent. Governor Shaktikanta Das noted that due to rising commodity prices and increasing pressure from other fuels, including petrol and diesel, a change in repo rates has become necessary. The interest rates have also been increased by banks since then. The repo-based interest rates of ICICI Bank, Bank of Baroda, and Bank of India have also increased as part of this sequence.

Banks will be closed tomorrow and the next day, employees adamant on strike even after SBI request

Bank News: The two days following, December 16 and 17, will be closed for all Public Sector Banks in the country as their employees will be on strike for two days. SBI’s employees’ unions remain adamant on their point even after appeals to the employees not to strike on behalf of other banks. The reason behind this strike is the privatization of banks.

Related Post – Best Site to Buy Instagram Followers in India

By using Twitter, the State Bank of India (SBI) communicated directly with its employees. The bank stated that due to this strike of employees, and due to the Corona epidemic, the stakeholders may face huge problems. SBI sent invitations to the bank unions as well. A letter was also sent by the Central Bank of India to its employees and unions, asking them to work for the bank’s improvement. The Punjab National Bank (PNB) also requested its employees to refrain from going on strike via Twitter.

An appeal to all Bank Staff. pic.twitter.com/EZFGpfnK0a
— State Bank of India (@TheOfficialSBI) December 13, 2021

Struggles to stop the continuous strike

Various media reports suggest that bank managers are constantly in touch with the bank associations and bank unions. A delay in the strike is constantly discussed. The Union Budget 2021 included a privatization plan for two major public sector banks, announced Finance Minister Nirmala Sitharaman. However, the Finance Minister did not yet decide on whether or not both banks would be privatized during a Cabinet Committee on Privatization meeting in the Lok Sabha on Monday.

Financial Minister’s latest statement

Replying to a Lok Sabha question, the government has stated that two public sector banks (PSBs) will be privatized during the year as part of the budget for 2021-22. This matter was delegated to the Cabinet Committee that is responsible for considering disinvestment issues, including the choice of a bank. The Cabinet Committee for Privatization of Public Sector Banks has not yet decided on this issue.