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Union Bank of India reduces MCLR by 10 basis points

The Union Bank of India, one of the renowned public sector banks in India, has announced a reduction in its marginal cost of funds-based...

Interest rates to be linked to external benchmarks from April 1

Come April 1 2019, banks will link their floating interest rates to external benchmarks, with the RBI proposing this new system. The interest rates...

Axis Bank increases MCLR by 10 basis points

Private banking firm Axis Bank announced that it is increasing its marginal cost of funds based lending rate (MCLR) by 10 basis points effective...

Loans to get costlier as banks plan to hike MCLR soon

Banks across the country are planning to increase their lending rates as early as March or April in a bid to protect their margins....

SBI lowers base rate by 30 basis points

India’s largest lender cuts its base rate by 30 basis points to 8.65%. Existing customers of State Bank of India (SBI) will benefit from...

Punjab & Sind Bank lowers MCLR by 0.10% and 0.05% for...

Punjab & Sind Bank announced that it is lowering its marginal cost-based lending rate (MCLR) by 10 basis points for its three-month duration loan....