Money & Banking

Central Bank of India cuts MCLR by 5 bps

Mumbai | Updated on September 14, 2020 Published on September 14, 2020

Central Bank of India has decided to pare its marginal cost of funds-based lending rate (MCLR) by 5 basis points across all tenors with effect from September 15.

The public sector bank’s revised one-year MCLR will be 7.10 per cent against the current 7.15 per cent.

“With this (cut), the bank has reduced its one-year MCLR by 90 basis points since April 1(from 8.00 per cent to 7.10 per cent),” the bank said in a statement.

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Published on September 14, 2020
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