Money & Banking

Central Bank cuts MCLR by 20 bps

Our Bureau Mumbai | Updated on August 14, 2019 Published on August 14, 2019

Central Bank of India has decided to reduce its marginal cost of funds-based lending rate by 20 basis points across all five tenors with effect from August 15. With this cut, the benchmark one-year MCLR will be 8.30 per cent, against the current 8.50 per cent. Pallav Mohapatra, MD and CEO, said: “The bank will come out with new products in the retail segment having RLIR during September 2019.”

Published on August 14, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.