Indian public sector banks, Bank of Maharashtra (532525.BOM) (MAHABANK.NS) and IDBI Bank (532235.BO) (IDBIBANK.NS) (IDBK.NS) have said that they have reduced their marginal cost of funds based lending rate (MCLR
) across select tenures by 10 basis points (bps) and 5-15 bps, respectively, Business Line has reported online.
Summary: Mumbai (Maharashtra) [India], July 13 (ANI): Government-owned Syndicate Bank has reduced its marginal cost of funds-based lending rate (MCLR
) by 5 basis points for various tenors effective July 15.
India's HDFC Bank(500180.BO) (HDFC.NS) (NYSE: HDC) has said that it has reduced the marginal cost-based lending rate (MCLR
) for two- and three-years tenures by five basis points (bps) to 8.85 percent and 9 percent respectively, The Indian Express has reported citing a statement on the bank's website.
In addition, one-month and overnight MCLRs
were increased by 0.10 percent each, the bank added.
Indian private sector lender HDFC Bank (500180.BO) (HDFC.NS) (NYSE: HDC) has increased its marginal cost of funds lending rate (MCLR
) to 8.40 percent, 8.45 percent and 8.55 percent for the one, three- and six-month tenures, respectively, The Financial Express has reported.
BANKING AND CREDIT NEWS-September 4, 2018--ICICI Bank raises one-year MCLR
by 15 bps
Global Banking News-October 2, 2017--India's Dena Bank cuts MCLR
lending rate by up to 20 basis points
The two-year marginal cost of funds-based lending rate (MCLR
) has been reduced to 9.35 percent from 9.40 percent, while three-year will cost borrowers 9.40 percent from 9.45 percent.
Axis Bank, the third-largest private lender, reduced its marginal cost of lending rate (MCLR
) by 15bps across all tenors up to 1 year and by 20bps for 2-year and 3-year tenors.
M2 EQUITYBITES-January 2, 2019--Karnataka Bank increaes one-year MCLR
Global Banking News-January 2, 2019--Karnataka Bank increaes one-year MCLR
BANKING AND CREDIT NEWS-September 11, 2018--Indian Overseas Bank hikes MCLR
on various maturities