SBI Hikes MCLR By 10 Base Points

India’s largest lender raised the marginal cost-based lending rate by 10 basis points, indicating a pivot from the easing interest rate cycle.State Bank of India raised the one-year MCLR rate to 7.1% from 7%, effective April 15, according to a notification on its website. The rates have been hiked across overnight to three-year loan tenors.The hike will impact existing borrowers. From April 1, 2019, all new retail and small business …

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India’s largest lender raised the marginal cost-based lending rate by 10 basis points, indicating a pivot from the easing interest rate cycle.State Bank of India raised the one-year MCLR rate to 7.1% from 7%, effective April 15, according to a notification on its website. The rates have been hiked across overnight to three-year loan tenors.The…

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