Diabytes
Retail loan News
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The Pune-based lender has received Reserve Bank of India's approval to set up an International Financial Services Centre (IFSC) Banking Unit at GIFT City.
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The State Bank of India (SBI) on Wednesday announced lowering its marginal cost of funds based lending rate (MCLR) by 10 basis points across all tenors to 8.05 per cent from October 10. The MCLR cut will make home and other retail loans cheaper for the existing borrowers.
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The Reserve Bank of India has been long examining the feasibility of mandating the use of external benchmark for determining interest rate on floating rate loans.
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