Public sector lending major, Punjab National Bank may be hiking interest rates soon following the recent 25bps hike in policy rates by Reserve Bank of India, said CMD of the bank, Mr K R Kamath.

Along with this, the bank chief has also hinted towards heavy recruitment of around 12000 people taking place for the bank this fiscal.

Kamath highlighted on new facilities being initiated by the bank mainly targetting the defense personnel like PNB Rakshak scheme for BSP, CRPF, CISF and other paramilitary forces. The scheme would aim at providing various facilities like overdraft, Sweep in and out in saving fund accounts and concessions in personal, vehicles and home loans.

The bank has released loans for supporting hydro power projects in Himachal Pradesh worth Rs 35,000 crore.