Live
- India Faces Blow as Pacer Mohammed Shami Ruled Out for Remainder of Australia Series
- Biden Pardon: Joe Biden Commutes Death Sentences of 37 Inmates, Including Child Killers and Mass Murderers
- South Korea: Yoon believes impeachment trial takes priority over martial law probe
- Strict Action for Non-Adherence to Time Management - DMHO Dr. Swarajya Lakshmi
- Over 13.29 lakh houses approved for rural poor in Maharashtra: Shivraj Chouhan
- District Collector Urges Timely Completion of Indiramma Housing Scheme Survey
- Digital Arrest Scam: Hyderabad Man Duped of ₹7 Lakhs by Fake Crime Branch Police Callers
- Sukhbir Badal seeks President's Police medal for officer who saved his life
- US Firm Accordion Acquires Merilytics, Launches 1,500-Seater Office in Hyderabad
- Free Medical Camp Organized by Alampur Advocate Bar Association
SBI lowers rates on non-repo-linked loans by 10 bps
State Bank of India (SBI) on Wednesday announced reduction in its marginal cost of fund based lending (MCLR) rate by 10 basis points across all tenors, effective October 10.
Mumbai: State Bank of India (SBI) on Wednesday announced reduction in its marginal cost of fund based lending (MCLR) rate by 10 basis points across all tenors, effective October 10.
This is the sixth time that the country's largest lender has cut its MCLR or minimum lending rate in the current financial year. The rate reduction is not applicable to the repo-linked loans.
"In view of the festival season and extending the benefits to customers across all segments, we have reduced our MCLR by 10 bps across all tenors," the bank said in a statement.
With this reduction, the one year MCLR, to which all the lending rates are linked to, is set at 8.05 per cent as against 8.15 per cent earlier.
The cut in MCLR follows a 25 bps reduction in repo rate by the RBI last week.
