The hike in MCLR rates will impact floating rate borrowers of personal loans and vehicle loans whose loans are tied to the MCLR.
According to the bank website, the one-year MCLR which is the key barometer for most loans has been hiked to 9.05% from the earlier 8.95%.
The overnight MCLR is now 7.95% from 7.80%; while the one-month is up at 8.10% from 7.95% and the three-month and six-month MCLRs will be 8.40% and 8.80%. The two-year MCLR will be 9.10%, and the three-year MCLR will be 9.20%.
Monday, 08 May, 2023- Front Page
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- Centre may See a Big Jump in RBI Dividend in FY24
The Centre is likely to make windfall gains by way of annual dividend receipts from the Reserve Bank of India (RBI), which is estimated to have garnered substantial profits in foreign-currency trading and by lending to the local banking system after the rise in policy rates and liquidity drainage prompted high-street lenders to borrow more from the RBI.
3 Russian Investors Register with Sebi to Enter FPI ListAmid mistrust, sanctions and weaponisation of the dollar, some of the large Russian investors may be preparing to directly bet on Indian stocks.
Sajjan Jindal Group Planning JSW Paints Stake Sale to PEsBillionaire Sajjan Jindal-led JSW Group is exploring a potential stake sale in JSW Paints, said two people directly aware of the development, as it looks to build capacity and establish a countrywide presence to take on its larger rivals.
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