This is the thirteenth consecutive rate cut by the lender since July last year.
The country’s largest lender State Bank of India has also reduced its MCLR by 5-10 basis points (bps) for shorter tenors, effective Friday.
Another state-run Indian Overseas Bank (IOB) has cut its MCLR by up to 25 bps across tenors.
Earlier this week, Canara Bank and Bank of Maharashtra (BoM) also reduced their MCLRs by 10 bps and 20 bps, respectively across all tenors.
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Unknown titleicable from July 11. The revised one-year MCLR stands at 7.40% against 7.60% earlier, the bank said in a release. Three-month and six-month MCLRs have been cut to 7.10% and 7.25%, respectively. <span>This is the thirteenth consecutive rate cut by the lender since July last year. The country’s largest lender State Bank of India has also reduced its MCLR by 5-10 basis points (bps) for shorter tenors, effective Friday. Another state-run Indian Overseas Bank (IOB) has cut its MCLR by up to 25 bps across tenors. Earlier this week, Canara Bank and Bank of Maharashtra (BoM) also reduced their MCLRs by 10 bps and 20 bps, respectively across all tenors. A letter from the Editor Dear reader, We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, ou Summary
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