MCLR News
Punjab National Bank slashes MCLR by 5 bps to ease borrowing costs
Punjab National Bank has reduced its MCLR by 5 basis points on various loan tenors effective July 1, 2025, providing relief to borrowers amidst rising interest rates.
2 min read4 Jul 2025RBI rate cut impact: Bank of Baroda, HDFC Bank reduce lending rate by up to 50 bps, 10 bps
Earlier on Friday, the RBI cut interest rates by a larger-than-expected 50 basis points, and unexpectedly reduced the cash reserve ratio for banks to make available more money to lend in a bid to boost the economy.
1 min read9 Jun 2025How Shaktikanta Das is fixing the problem of wayward bank interest rates
The RBI action came after years of nudging banks which were reluctant to pass on rate cuts to borrowers but were quicker to pass on rate hikes. Similarly, banks would delay raising deposit rates when RBI hiked the repo rate, but reduce it soon after an RBI rate cut.
4 min read5 Jul 2024MCLR: What is it and why is preferred over the base interest rate for loan EMIs?
The MCLR, which was introduced in 2016, is the lowest rate at which banks may lend to their clients. Read on to learn more about its advantages and calculation.
2 min read11 Jul 2022