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Karnataka Bank has reduced its MCLR (marginal cost of funds based lending rate) for all tenors by 10 basis points with effect from November 1, according to a press release. With this, the one-year MCLR of the bank now stands at 8.75 per cent. The six-month MCLR at 8.40 per cent, three-month at 8.35 per cent, one-month 8.30 per cent, and overnight at 8.25 per cent.
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