Diabytes
Minimum lending rate News
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"This is to inform that the bank has revised the base rate from 9.50 per cent per annum to 9.45 per cent per annum with effect from 03.10.2017," Oriental Bank of Commerce said in a regulatory filing.
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State-run IDBI Bank on Friday said it has reduced its marginal cost of funds based lending rate (MCLR) for various tenors, effective from January 1.
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Axis Bank has slashed its minimum lending rate by 10 basis points to 9.35 percent, with effect from July 27.
While MCLR has been reduced by up to 0.5 percent, the base rate has been cut by 0.06 percent.
The direction comes soon after Reserve Bank cut repo rate by 0.25 percent, the first reduction in 20 months, to boost credit and economic growth.
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