MCLRSMultiple Control Line Running System (Tesco)
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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