IDBI Bank lowers lending rates by 5 bps
The new one-year marginal cost of funds-based lending rate (MCLR), to which most of the loan pricing is based on, has been reduced to 9 percent, the bank said in a statement Thursday.
The revised six month and two-year MCLR now stand at 8.60 percent and 9.25 percent, respectively. Image source: Reuters