After SBI cuts MCLR by 5 bps, this bank wields the knife too, cuts 10 bps
A day after country's largest lender State Bank of India (SBI) reduced its MCLR by 5 bps, state-owned Oriental Bank of Commerce (OBC) has cut the marginal cost of funds-based lending rate (MCLR) on Wednesday by up to 10 basis points (bps) for various tenors with effect from Thursday.
Earlier, MCLR for overnight and one-month tenor was 8.30 per cent and 8.35 per cent, respectively. Source - Pixabay.