Reuters logo
BRIEF-India's IDBI Bank cuts lending rates by 5-10 bps across tenors under MCLR
September 6, 2017 / 2:00 PM / 16 days ago

BRIEF-India's IDBI Bank cuts lending rates by 5-10 bps across tenors under MCLR

    Sept 6 (Reuters) - India's IDBI Bank says: 
    * Reduces marginal cost of funds based lending rate (MCLR)
by 5-10 bps across tenors effective Sept.7
    * Sets one-year MCLR at 8.55 percent, six-month MCLR at 8.35
percent

    SOURCE TEXT: [IDBI Bank reduces Marginal Cost of Funds based
Lending Rates (MCLR) as under:
             Tenor                       MCLR ( in % )
           Overnight                          8.00
           One Month                          8.10
          Three Month                         8.30
           Six Month                          8.35
            One Year                          8.55
            Two Year                          8.60
           Three Year                         8.70
 The above revised rates are applicable w.e.f. Sep 07, 2017. The
Bank has reduced MCLR by 05 bps to 10 bps across various tenors.
The reduction in MCLR is expected to positively impact loan
growth, thereby supporting the growth impulses in the economy.]

Further company coverage:          
    

 (Mumbai newsroom)
  

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below