mclr
RBI, Sebi need to be cognisant of market volatility: Urjit Patel
Stock markets have been on a sharp downslide this week, barring just one session, amid a global rout in equities.
SBI cuts base rate by 30 basis points
The move is likely to trigger a similar action from other public as well as private sector lenders in the coming days.
SBI lowers base rate, BPLR by 30 bps; leaves MCLR unchanged
Nation's largest lender revised down the base rate to 8.65 per cent for existing customers from 8.95 per cent.
OBC cuts MCLR by 0.05 per cent for select tenors
MCLR for overnight, and six-month lending have been kept unchanged at 8.10 per cent and 8.30 per cent.
RBI panel pushes new rules so lenders pass on rate cuts more quickly
The RBI has cut its policy rate by a total of 200 basis points from January 2015 to August 2017.
RBI panel suggests external benchmark rate in place of MCLR
Reserve Bank's policy repo rate are better suited than other interest rates to serve role of an external benchmark.
RBI comes down heavily on MCLR, moots external benchmark
The base rate/MCLR regime is also not in sync with global practices on pricing of bank loans.
Dena Bank cuts MCLR lending rate by up to 20 bps
The loans with 3 and 6 month and 1 year tenors will have a reduced MCLR by 0.15 per cent.
Union Bank, Dena Bank reduce MCLR rates
New one-year MCLR has been set at 8.20 per cent as against 8.40 per cent earlier.
Savings bank rate cut to up competition for HFCs from banks
HFCs will face a margin contraction in this segment limiting the spreads to absorb all the costs.