Wed, Dec 18, 2024
Banks Revise MCLR Rates: In December 2024, several banks have revised their Marginal Cost of Lending Rates (MCLR), which directly impact various loan rates like home loans and personal loans.
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Thu, Nov 07, 2024
The benchmark one-year tenor MCLR, which is used to price most consumer loans like auto and personal, has been retained at 9.45 per cent, according to the HDFC Bank website.
Sat, Feb 10, 2024
HDFC Bank has increased the benchmark marginal cost lending rate (MCLR). The lender has also increased the MCLR for loans of certain tenures, which has come into effect from January 8.
Wed, Dec 05, 2018
RBI had stated several times, that banks are not passing the benefits of reductions in RBI policy repo rate to borrowers.
Tue, Oct 09, 2018
Crux of the matter: Why banks are not passing on the benefits of rate cuts to borrowers.
Tue, Sep 18, 2018
The only difference is that, base rate is determined by the average cost of funds, in contrast to the MCLR which depends on the current cost of funds.
Fri, Jun 08, 2018
The bank has increased MCLR rates by 10 bps (or 0.10 per cent) for various tenors, it said in a statement. "Bank of India has revised upward marginal cost-based lending rate for one-year at 8.50 per cent while overnight rate up by 10 bps at 7.90 per cent," the statement said.
Wed, Feb 14, 2018
On February 7, HDFC Bank increased MCLR by 10 basis points for some tenures, while Axis Bank in January 2018 had raised the benchmark by 5 basis points.
Mon, Jan 29, 2018
Credit growth will take at least two-three quarters to see a revival, while borrowing cost is not going to come down any time soon, said ex-SBI Chairman Arundhati Bhattacharya in an exclusive interview to Zee Business.
Wed, Jan 03, 2018
Whenever SBI makes any changes either in savings or in lending rates, other banks follow the suit.
Fri, Dec 29, 2017
Average base rate of NBFCs-MFIs which stood near 10.09% from April – June 2014 quarter, came down to 9.45% on December 2015, further to 9.41% by end of December 2016 and then to 9.06% in September 2017.
Wed, Nov 01, 2017
A day after slashing MCLR, the State Bank of India (SBI) also reduced its fixed deposits rate by 25 basis points for less than Rs 1 crore on various tenure with effects from Wednesday.
Tue, Oct 31, 2017
MCLR was introduced on from April 2016 with an aim to ensure that the banks pass on the benefits of RBI's rate cut to their customer in faster pace.
Wed, Oct 04, 2017
From June - till date, RBI has reduced the Statutory Liquidity Ratio by 100 basis points. SLR which stood at 20.5% before June will now reach to 19.50% from next week.
Fri, Sep 29, 2017
The panel has also approved the shift from pending lending rate (PLR) to marginal cost of funds based lending rate (MCLR) regime for calculation of interest on delayed payment of licence fees and spectrum usage changes plus 400 points.
Mon, Sep 25, 2017
Retail loan has less exposure in banks stressed assets and has been considered a favourable segment which can boost the lenders credit cycle.
Thu, Aug 17, 2017
A total of seven banks have revised interest rates on savings bank account between 25 basis points - 100 basis points on various minimum balance.
Fri, Aug 11, 2017
Since the start of fiscal year 2017-18 (FY18) all scheduled commercial banks (SCBs) business ( advances and deposits has seen decline in both year-to-date (YTD) and year-on-year (YoY) basis.
Wed, Aug 09, 2017
Two banks namely Axis Bank and SBI have brought down their savings account interest rates by 50 basis points.
Thu, Aug 03, 2017
RBI trimmed down policy repo rate to 6% from 6.25% which is expected to boost housing sector.
Wed, Aug 02, 2017
RBI feels base rate has turned out to be cause of concern which is why it has appointed a group to study various aspects of the MCLR system.
Tue, Jun 06, 2017
Gross bank credit growth was at Rs 65,93,500 crore in April rising by just 4.3%. Credit growth of the banking sector has been on single-digit since last fiscal has been a concern area of RBI and lenders.
Mon, May 29, 2017
The financial year 2016-17 (FY17) was no different for the India's banking system as it continues to suffer from single-digit loan growth, weak net interest income (NII) and lack of resolution to its non-performing assets (NPAs).
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