Punjab National Bank (PNB) plans to keep deposit rates steady even after the recent rate cut by the Reserve Bank of India (RBI). Managing Director and CEO Ashok Chandra said the bank has already adjusted rates earlier and does not see scope for further cuts right now.

The bank earlier reduced fixed and savings deposit rates in two phases.

Chandra expects the benefit from the cash reserve ratio (CRR) cut to offset the impact of the policy rate move. He said PNB received about ₹15,000 crore liquidity from the CRR release.

He added, “Around ₹100 crore is going to impact in our net interest income (NII) in this quarter,” but the bank remains confident about meeting its guidance. Domestic net interest margin is likely to hold at around 2.7 to 2.75%.

The MD & CEO expects 11 to 12% loan grow

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