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PNB increases FD rates by
50 bps
New Delhi, December 22, 2006
Punjab National Bank today announced hike in Fixed Deposit
Rates by 25 to 75 bps in Different Maturity Periods w.e.f.
26.12.2006. The Interest Rate on Domestic Term Deposit was
last increased on 13.11.2006.
Explaining the logic behind revision of Deposit Rates Shri
SC Gupta, CMD said that it has been done with a view to give
flip to economic development in the country. At the same
time, he expressed hopes for taking care of the reduced
margins by better management of recovery in the Asset
Portfolio. PNB is sure of avoiding any Asset Liability
mismatches by simultaneously managing its interest spreads.
PNB has announced this hike taking care of the hardening of
interest rates in Government Securities market and the Credit
pick up which have been the key triggers.
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