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The Times of India

Business

PTI

Banks hike MCLRs, repo-linked lending rates post RBI rate action

RBI SBI Federal Bank Kotak Mahindra Bank ICICI Bank New Delhi Punjab National Bank

NEW DELHI: Joining peer lenders, SBI, Kotak Mahindra Bank and Federal Bank are the latest in the list to revise their marginal cost of funds based lending rates (MCLRs) in addition to hikes in repo-linked rates from early October.

Following a hike in repo rate by the Reserve Bank of India on September 30 by 50 basis points to 5.90 per cent, banks raised their repo-linked lending rates by a similar margin. Gradually, they also raised the marginal cost of funds based lending rates.

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