New Delhi, June 8 -- A host of public sector banks - Punjab National Bank (PNB), Bank of Baroda, UCO Bank, and Bank of India - along with private lender Karur Vysya Bank, have cut lending rates following the Reserve Bank of India's unexpected 50 basis point (bps) repo rate reduction last week, according to a Business Standard report.

The Monetary Policy Committee (MPC) surprised markets by slashing the repo rate to 5.5%, against forecasts of a smaller 25 bps cut. This marks the third cut in 2025, taking the cumulative reduction to 100 bps so far this year.

Repo-linked rate revisions:

PNB revised its repo-linked lending rate (RLLR) from 8.85% to 8.35%, effective 9 June, but left its MCLR unchanged.

Bank of Baroda lowered its RLLR by 50...