SBI cuts lending rates to 7.90%

23

New Delhi: India’s largest bank, State Bank of India (SBI) on Monday lowered its Marginal Cost of Funds based Lending Rate or MCLR to 7.90 per cent from 8 per cent.

The bank claimed it continued to be the cheapest loan provider in the country.

The Reserve Bank of India (RBI) earlier this month kept the repo rate at 5.15 per cent, barely 40bps higher from the lowest ever. On a cumulative basis, the RBI has slashed lending rates by 135bps since the start of the year.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.