Axis Bank shares up 1% after cutting MCLR by 5 bps
The fourth largest private lender, lowers its marginal cost of fund-based lending rate (MCLR) by 5 basis points, a move which will lower EMIs for its new borrowers.
The new rate for one-year lending tenure has been trimmed to 9.25% from 9.30%, Axis Bank said in a statement. Photo: Official website