Punjab National Bank has increased its MCLR by 10 basis points across all six tenures, effective November 1, 2026. The one-year MCLR now stands at 8.90%, while the three-year rate has increased to 9.20%. Hours after the Reserve Bank of India hiked its benchmark policy repo rate by 25 basis points (bps) to 5.50% on 7 October, a number of banks are increasing their lending rates from Thursday,.