Large banks raise MCLR by up to 20 bps after RBI's repo rate hike
Economic Times 8 hrs ago·11 Nov 2026, 8:19 am
Large banks have responded to the Reserve Bank of India's recent 25‑basis‑point repo‑rate increase, which lifted the policy rate to 5.5%, by raising their marginal cost of funds‑based lending rates (MCLR) by as much as 20 basis points. Punjab National Bank is among the seven lenders, including SBI, HDFC Bank and Bank of Baroda, that announced the change.
MCLR is the reference rate used to price most loans, so a higher MCLR translates into higher borrowing costs for both corporate and retail customers. For investors, this can affect banks' net interest margins: if loan rates lag the funding cost rise, margins may be squeezed, while quicker pass‑through can preserve earnings.
Investors should monitor how swiftly banks, especially PNB, transmit the higher funding cost to borrowers, any further RBI policy adjustments, and the upcoming earnings reports for signs of margin pressure or offsetting fee‑income growth.
Excerpt from Economic Times
Updated On Nov 11, 2026 at 01:52 PM IST Large banks have started raising their marginal cost of funds-based lending rates ( MCLR ), with seven lenders, including State Bank of India (SBI), HDFC Bank , Punjab National Bank (PNB), Bank of India , Indian Bank, Canara Bank and Bank of Baroda , revising their benchmark…Read the original at Economic Times
Affected stocks
Bearish4 stocks
Punjab National Bank
PNB Bearish
₹132.17
BANKBARODA
BANKBARODA Bearish
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HDFCBANK
HDFCBANK Bearish
—
SBIN
SBIN Bearish
—
Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns Punjab National Bank (PNB).
- Category: Sector.
- AI reads the tone as negative (potentially bearish) for the stock.
- Flagged as a high-impact, market-moving story.
- Also mentions BANKBARODA, HDFCBANK, SBIN.
Why it matters
This is a high-impact development for Punjab National Bank and could move the stock. The tone is negative — watch for downside reaction. Use the price and stock snapshot to gauge how the market is responding.
