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News
MCLR rates
MCLR rates News
ICICI Bank
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.
SBI
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.
Axis Bank
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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