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MCLR rates News

02 Nov 2023

Big Blow To Loan Borrowers! ICICI, Bank Of India Hikes Their Lending Rates

Implemented by the RBI on April 1, 2016, MCLR serves as the minimum lending rate below which a bank is not allowed to lend.

14 Jan 2023

BAD NEWS for Loan borrowers! SBI hikes lending rates by up to 10 bps

MCLR had already increased by the bank in December 2022. The new rate is now 8.4 percent. The new rate goes into effect tomorrow.

16 Jan 2017

Loans to be cheaper as Axis Bank cuts MCLR by up to 0.70%

Loans will soon be cheaper as country's third largest private sector lender Axis Bank on Friday cut its interest offering by up to 0.70 per cent. The latest rate cut is being seen as a move following similar moves by all the major players in the system due to high liquidity post demonetisation.

Statae Bank of India interest rate

29 Oct 2016

SBI, ICICI Bank slash lending rates

Top two lenders in the country, State Bank of India (SBI) and ICICI Bank, today announced a cut of 0.15 percent and 0.10 percent in their lending rates respectively under a new system of computation, signalling a further dip in borrowing costs ahead of the busy season.

Transmission of monetary action

05 Apr 2016

No silver bullet, government working on rate transmission: Jayant Sinha

Government is looking at ways to ensure transmission of monetary action on the ground as there is no silver bullet that can deal with the rate cut issue, Minister of State for Finance Jayant Sinha today said.

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