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Business Economy


SBI reduces MCLR by 5-10 bps in the shorter tenors

SBI reduces MCLR by 5-10 bps in the shorter tenors

Kolkata, Jul 8 (UNI) Country’s largest lender State Bank of India (SBI) has announced

the reduction in its MCLR by 5-10 bps in the shorter tenors i.e. up to 3 months, with

effect from July 10 2020, to boost credit off take and revive demand.

This is 14th consecutive reduction in the Bank’s MCLR. With this revision, SBI’s

MCLR upto 3 Months tenor comes down to 6.65% p.a., which is on par with the

EBLR of SBI.

SBI’s MCLR continues to be the lowest in the market.

Details are being made available on the Bank’s web site, a SBI statement here on

Wednesday said.

UNI BM SJC

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