ICICI Bank and Punjab National Bank (PNB) increase marginal cost-based lending rates (MCLR), EMIs to rise
Private sector lender ICICI Bank and public lender Punjab National Bank (PNB) have hiked their marginal cost-based lending rates (MCLR), even though the Reserve Bank of India (RBI) retained the policy rate on August 10. The move will make EMIs linked to MCLR expensive. The one-year tenor MCLR is the rate against which most consumer …