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Business Companies 06 Jun 2017 Canara Bank cuts MCL ...

Canara Bank cuts MCLR by 0.05 per cent for various maturities

PTI
Published Jun 6, 2017, 6:58 pm IST
Updated Jun 6, 2017, 7:05 pm IST
In terms of the guidelines of RBI, all rupee loans sanctioned and credit limits will be renewed with reference to the MCLR rates.
Representational Image.
 Representational Image.

 New Delhi: Public sector Canara Bank has cut MCLR rates by 0.05 percentage point for various maturities with effect from tomorrow.

"In terms of the guidelines of RBI, all rupee loans sanctioned and credit limits renewed from June 7, 2017 will be priced with reference to the tenor-based MCLR rates are as below", it said in a regulatory filing.

 

For overnight, the new MCLR will be 8.10 per cent, while for one month and three-month maturities new marginal cost based lending rates (MCLR) will be priced at 8.15 per cent and 8.20 per cent respectively. For six months and one year, the new MCLR are set at 8.35 per cent and 8.40 per cent respectively, the bank said.

Stock of the bank today closed 1.32 per cent down at Rs 358.05 on BSE.

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