The one-year marginal cost of funds-based lending rate (MCLR) would come down to 8.05% from 8.15% from October 10
Bank official hints at another round of rate cuts following low credit offtake
The one-year MCLR is the benchmark against which most customer loans such as auto, personal and home loans are priced.
Will the RBI check what 'operating costs' are being loaded into MCLR calculations?
If you took a home loan after April 2016, it would be linked to a benchmark called MCLR
The new rates are effective from January 7th