IDFC First Bank has hiked its marginal cost of funds-based lending rates by 5-15 basis points across tenures, effective today, according to the bank’s website.
After the revision, the bank’s lending rates are in the range of 8.60-9.65%.
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In February, the private bank had hiked the MCLR by 10-15 bps across tenures.
According to rules established by the Reserve Bank of India, banks must evaluate their lending rates every month in light of the marginal cost of capital.
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Shares of the bank traded flat at ₹57.15 on NSE, at 11:10 IST.
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