Punjab & Sind Bank spurts on cutting interest rates for home and auto loans

Punjab & Sind Bank | Bank - Public | BFSI | BSE: 533295 | NSE: PSB

18 Apr 2012 Evaluate

Punjab & Sind Bank is currently trading at Rs. 79.40, up by 2.10 points or 2.72% from its previous closing of Rs. 77.30 on the BSE.

The scrip opened at Rs. 79.00 and has touched a high and low of Rs. 80.00 and Rs. 78.20 respectively. So far 56130 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 113.30 on 25-Apr-2011 and a 52 week low of Rs. 56.05 on 22-Dec-2011.

Last one week high and low of the scrip stood at Rs. 80.00 and Rs. 75.10 respectively. The current market cap of the company is Rs. 1857.27 crore.

The promoters holding in the company stood at 78.16% while Institutions and Non-Institutions held 8.95% and 12.89% respectively.

State-owned lender Punjab & Sind Bank (PSB) has cut its interest rates for home and auto loans for new borrowers by up to 0.75%.

The announcement coincided with the RBI’s annual credit policy which reduced the benchmark lending rate by 0.5% to 8%. In home loan, interest rates have been reduced between 0.25-0.50% while for auto loan it varies between 0.25-0.75% depending on maturity and amount borrowed.

The bank offered home loan to its customer between 11-12.75% prior to reduction. At the same time, auto loan rate varied between 12.75-13.75%. The new rates have become effective from April 1.

Meanwhile, the RBI reduced the short-term lending (repo) rates to 8% from 8.5%. In the Annual Monetary Policy, 2012-13, RBI doubled borrowings under the Marginal Standing Facility for banks to 2% of their deposits with immediate effect to ease liquidity. It also permitted banks to borrow under the MSF even if they have excess government securities holdings.

Punjab & Sind Bank Share Price

24.81 -0.10 (-0.40%)

04-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
SBI	1068.30
PNB	108.80
Canara Bank	134.90
Bank Of Baroda	265.10
Union Bank Of India	163.70
View more..

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