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Total 91 results found. Search for [ SBI cuts MCLR ]

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PTI
Mumbai, January 13, 2017
The Shikha Sharma-led bank cut its marginal cost of funds based lending rate (MCLR) for one year tenure-which serves as the benchmark for a slew of loans including home loans-by 0.65 per cent to 8.25 per cent, it said in a statement.


PTI
New Delhi, January 5, 2017
Joining the rate cut bandwagon, major banks, including HDFC Bank and Canara Bank, on Wednesday slashed their lending rates by up to 0.9 percentage point to make home and other loans cheaper to customers.


PTI
New Delhi, January 4, 2017
The bank's asset liability committee decided for a cut of 0.75-0.90 per cent in marginal cost of funds-based lending rate (MCLR) across multiple tenures. When contacted, its executive director Kaizad Bharucha confirmed the move and said this has primarily been driven by the huge amount of liquidity in the system due to demonetisation.


PTI
New Delhi, January 3, 2017
Loans up to Rs 75 lakh will attract interest rate of 8.7 per cent per annum, while it will be 8.75 per cent for higher amounts, HDFC said in a statement.


Reuters
New Delhi, January 3, 2017
SBI, the country's biggest lender by assets, said on Sunday it had cut its so-called marginal cost of funds-based lending rates (MCLR) by 90 basis points, while unveiling new products for mortgage loans, one of the fastest-growing areas.


PTI
January 2, 2017
Top PSU lenders State Bank, PNB and Union Bank on Sunday slashed their benchmark lending rates by up to 90 basis points, a day after Prime Minister Narendra Modi asked banks to priorities their lending towards the poor and middle class.


Reuters
January 2, 2017
The weak start to 2017 also comes as a private survey on Monday showed Indian factory activity plunged into contraction last month as Modi's currency crackdown severely hurt output and demand.


PTI
Mumbai, October 29, 2016
Private sector lender ICICI Bank was the first to announce a cut of 0.10 per cent in its marginal cost of funds based lending rate (MCLR) across tenors, which was followed by a similar move by the country's largest lender SBI, but of a larger measure of 0.15 per cent.


BT Online
October 4, 2016
The repo rate after RBI Governor Urjit Patel's announcement today stands at 6.25 per cent after a reduction of 0.25 per cent. This is the rate at which the RBI lends money to commercial banks. With lending becoming cheaper, banks will be in a position to reduce interest rates on home and auto loans, bringing relief for the middle class.


PTI
Mumbai, June 2, 2016
This will help reduce the rate of interest to new borrowers. Under the new rate structure effective from June 1, the bank will give overnight loans to new borrowers at 8.95 per cent, while the one-year MCLR, to which its housing loans are linked, now comes down to 9.15 per cent.


Teena Jain Kaushal
April 20, 2016
A new lending rate methodology enables banks pass benefit instantly to borrowers.


Reuters
April 4, 2016
The RBI adopted the rules, effective from the April 1 start of a new fiscal year, after deep frustration that it cut its key repo rate by 125 basis points last year, but banks lowered lending rates by only about 60 bps.


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