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Last Updated : Oct 10, 2019 01:23 PM IST | Source: PTI

Bank of Maharashtra cuts MCLR by 0.10%

The benchmark one-year marginal cost of funds based lending rate (MCLR) will now be priced at 8.40 percent with effect from October 8, 2019, the bank said in a regulatory filing.


State-owned Bank of Maharashtra on Thursday announced a cut in its marginal cost of funds based lending rates by 0.10 percent across tenors.

The benchmark one-year marginal cost of funds based lending rate (MCLR) will now be priced at 8.40 percent with effect from October 8, 2019, the bank said in a regulatory filing.

The other tenors from overnight to six-months have been slashed by equal measure in the range of 8.05-8.30 percent.

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The lender has also cut down the repo linked lending rate (RLLR) by 0.25 percent to 8.20 percent from 8.45 percent earlier with effect from October 8.

Base rate has been kept unchanged at 9.50 percent per annum, the bank said.

Stock of the bank was trading at Rs 10.41 on BSE, down 3.61 percent on BSE.

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First Published on Oct 10, 2019 01:18 pm
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