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Financials

BRIEF-India's ICICI Bank cuts MCLR-based lending rate by 5 bps

Oct 4 (Reuters) - ICICI Bank 
    * Reduces MCLR by 5 bps
    * Says MCLR-based lending rate reduced effective Oct 1

    SOURCE TEXT: ICICI Bank announced a reduction of 0.05
percent in ICICI Bank MCLR benchmarks effective from October 1,
2016. I-MCLR benchmarks effective from Oct. 1, 2016 are provided
below:
 
  Benchmark     Benchmark     Benchmark
    tenure         name       rate p.a.
 Overnight     I-MCLR-ON        8.85%
 One month     I-MCLR-1M        8.85%
 Three months  I-MCLR-3M        8.95%
 Six months    I-MCLR-6M        9.00%
 One year      I-MCLR-1Y        9.05%
 
Further company coverage: 

 (Reporting by Devidutta Tripathy)
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