Lockdown in India: SBI, Indian Overseas Bank, Bank of Maharashtra cut lending rates
Lockdown in India: In the wake of COVID-19 lockdown in India hitting people's monthly budget to a larger extent, State Bank of India (SBI), Indian Overseas Bank (IOB) and Bank of Maharashtra have cut down their lending rates.
SBI and IOB has slashed MCLR (Marginal Cost of funds based Lending Rate) by 15 bps and 10 bps respectively while the Bank of Maharashtra has slashed its MCLR by 10 bps. Photo: PTI