Latest News
-
1:5 & 1:2 Split, Rs 6/Sh Dividend: Fertilizer Stock Coming Up With 600% Payout; Record, Payment Dates Fixed -
Cube Highways Trust Set to Acquire Seven Highway Assets Worth Rs 5,172 Crore -
1:10 Split, Rs 51 Dividend: Accumulate Tata Stock, TP Rs 170; Big Update On £1.25 Bn Investment -
Tech Mahindra Sets Three-Year Plan for Robust Growth and Market Leadership by FY27 -
Tech Mahindra Q4 Net Profit Falls 41%, Announces Growth Strategy -
3 Bonus, 1:2 Split, 38 Dividends: Rs 1,915 Midcap IT Stock To Pay 360% Dividend After Q4 Profit Rises -
EU Finds No New ETO Cases in Indian Organic Exports Post-Dec 2020 -
1:5 Stock Split Approved: Defence Stock To Be Cheaper Soon, Shares Zoom 507% In 1-Yr -
Edelweiss Alternatives Expands Portfolio with Bengaluru's MMTP Projects Acquisition -
1:2 Split, 1:1 Bonus, Rs 28/Sh Dividend: Mahindra's IT Stock To Pay 560% Dividend; Check Record, Payment Dates
For Daily Alerts
SBI Slashes 3-Month Lending Rate; Stock Jumps 3%
The country's leading PSB State Bank of India (SBI) has reduced its lending rate by up to 10bps for shorter tenures of three months. One basis point is one-hundredth of a percentage point. The new 3-month MCLR stands at 6.65%, which is comparable to the external benchmark linked lending rate or EBR.
The move is in a bid to boost plummeting demand for credit. The new rates will come into effect from July 10. The rate cut will boost credit offtake and revive demand in the market, said the bank in a statement. As per the bank's exchange filing this is the 14th consecutive MCLR rate cut.
Meanwhile, shares in SBI jumped for the third straight day by 3% to Rs.194.2 per share on the NSE.
GoodReturns.in
Story first published: Wednesday, July 8, 2020, 10:14 [IST]
More From GoodReturns
