IDBI Bank hiked its marginal cost of funds-based lending rates by 20 basis points across tenures, effective today, according to information on the bank’s website.
After the revision, the bank’s lending rates are in the range of 7.65-9.40%.
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In December, the private bank had kept the MCLR unchanged across tenures.
The Reserve Bank of India’s norms require banks to review their lending rates every month based on the marginal cost of funds.
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