New Delhi: Punjab National Bank has already reduced its one year MCLR by 10 bps with effect from August 1, 2019 in anticipation of policy rate cut by Reserve Bank of India. "Our one year MCLR presently is 8.30 % which is one of the lowest in the industry.Bank shall review its MCLR rate in the next ALCO meeting scheduled to be held in last week of August 2019 to pass on the benefit of the policy rate cut of RBI. Bank shall also review the linking of interest rate for retail loans with repo rate in the said meeting," the Punjab National Bank said.