According to its Chairman and Managing Director, Mr K.R. Kamath, Punjab National Bank (PNB) will fix its base rate at 8-8.5 per cent. He told newspersons that the base rate system (which would replace the existing prime lending rate from July 1) would benefit small and medium enterprises.
The total business of the bank as on March 31 was at Rs 4.36 lakh crore.
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