Click it and Unblock the Notifications
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
More From GoodReturns
Indane, HP & Bharat Gas Cylinder Booking Rules: OTP Mandatory After LPG Refilling Gap Increased to 25-45 Days
Gold & Silver Rates Today Live: MCX Gold Crashes By Rs 5,645, Silver Falls By Rs 16,540; 24K, 22K, 18K Gold
Crash in Gold Rate in India by Rs 71,400 in Single Day; Will Gold Price Today Fall Below Rs 1.50 Lakh? Outlook
Gold Price In India Rebounds After Rs 78,000/100 Gm Crash In 2 Days, Silver Rate Today Stable | March 20
1:1 Bonus, 1:5 Split, 39 Dividends: Hindustan Zinc Share Rally 3% As Silver Rates Jump: Buy This Vedanta Stock
1:5 Split Soon? Vedanta Ltd To Consider 3rd Interim Dividend On March 23, Share Jumps; Record Date & Buy Call
Gold Rates & Silver Rates Today Live: MCX Gold & Silver Price Gives Up Some Early Gains; 24K, 22K, 18K Gold
Bengaluru Power Cut Today: Key Areas To Face 7-Hour Power Outage for BESCOM Maintenance On March 15| Full List
Gold Rates In India Crash Continues Today, 24K, 22K, 18K Gold Prices On Mar-16; Gold Rate Falls By Rs 41,400
Emirates, Etihad, Air India Express Cancel Dubai, Abu Dhabi, Dammam Flights on 16-17 March; Check Status Today
DigiLocker PVR Storage: How Indian Citizens Can Digitally Save Passport Verification Records?
Sign in with Google