Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
September 26, Wednesday 2018 10:00 AM       

       HEADLINES: Balabhaskar's condition critical; friends, relatives visit hospital                                              Rahul Gandhi a 'directionless leader', Cong creating campaign based on lies: Javadekar                                              Amit Shah to attend BJP workers meet in Jaipur on Wednesday                                              Pak won't abandon peace efforts despite India's reluctance: Qureshi                                              Maldives government acknowledges opposition victory                                              Trump's latest tariffs on China begin to bite                                              China says can't hold US trade talks with 'knife to the throat'                                              I'm a 'scapegoat' says sacked Sri Lanka captain Mathews                                              Test cricket should not be tinkered with, says Kohli                                              Kaumudi Facebook
       BUSINESS Next Article: ICBC elects Chiranjiv Patel as Chairman of Gujarat Regional Council  
       SBI hikes benchmark lending rate by 0.2 pc
 
         Posted on :08:14:20 Sep 2, 2018
   
A A
       Last edited on:08:14:20 Sep 2, 2018
         Tags: SBI hikes benchmark lending rate by 0.2 pc
 
New Delhi: Home, auto and other loans would become costlier as the country's largest lender SBI Saturday increased its benchmark lending rates or MCLR by 0.2 per cent, a development followed by other lenders.
 
The new rates are effective from today. 
 
State Bank of India (SBI) has increased the lending rate by 20 basis points across all tenors up to three years. 
 
Now SBI's overnight and one-month tenors' Marginal Cost of Funds Based Lending Rate (MCLR) stands at 8.1 per cent as against 7.9 per cent, as per the SBI's website. 
 
The MCLR for a one-year tenor increased to 8.45 per cent from 8.25 per cent earlier. Most of the retail loans are benchmarked against one-year MCLR.
 
The MCLR for a three-year tenor increased to 8.65 per cent from 8.45 per cent.
 
The rate hike by bank comes a month after the Reserve Bank of India (RBI) hiked benchmark lending rate called repo rate by 25 basis points to 6.5 per cent.
 
RBI had last raised the repo rate on June 6 by 0.25 per cent to 6.25 per cent. That increase was the first since January 28, 2014 when rates were hiked by a similar proportion to 8 per cent.
 
A A
       BUSINESS
Next Article: ICBC elects Chiranjiv Patel as Chairman of Gujarat Regional Council
 
 
BUSINESS HEADLINES
Jaitley asks PSU banks to take effective action against frauds, wilful defaults  
New MD-cum-CEO for Indian Bank  
New MD-cum-CEO for Indian Bank  
India may cut oil imports to mitigate pain from high oil prices, dip in rupee  
Gold rises marginally as traders widen bets  
Fed rate decision, rupee, crude oil to drive markets this week: Experts  
"RBI unlikely to hike repo rate in Oct despite weak INR"  
OYO to hire over 2,000 tech experts, engineers by 2020  
Sensex ends in red after 1,000-pt flash crash  
OYO to hire over 2,000 tech experts, engineers by 2020  
Avis India announces free doorstep delivery, collection of self-drive cars  
Dena Bank surges 20%; BoB tumbles 14% post merger announcement  
Vijaya Bank, Dena Bank, BoB to merge: Govt  
Mother Dairy won't cut prices despite Patanjali's cheaper cow milk  
Union Bank of India exits Antwerp diamond market  
Naidu discusses bilateral cooperation in trade and defence with Serbian President  
FundzBazar crosses 2 lakh investors milestone  
Ramdev Baba’s Patanjali launches cow milk, french fries and more  
United Bank of India increases MCLR by five basis points  
RBI submitted a list of high profile fraud cases to PMO: Rajan  
Chemists call for strike on Sep28 against online medicine sale  
Rupee sinks to new low of 72.91, drops 22 paise against USD  
Skills and You develops special module 'Curio'  
Google ready to comply with RBI norms for payment services, says official  
FinMin in touch with RBI for market intervention to contain rupee value  
 
Do you agree with KCBC's statement against nuns who protested?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy