Which bank has reduced its benchmark lending rate by 0.05% points? – InterviewSolution

InterviewSolution

1.	Which bank has reduced its benchmark lending rate by 0.05% points?
Answer» State-owned Allahabad Bank announced a reduction in benchmark lending rate by 0.05 percentage points across various tenors. The marginal cost of funds-based lending rate (MCLR) for a one-year loan has been reduced to 8.60% from 8.65% effective May 14. Most of the loans including housing loans are benchmarked against MCLR for one year.

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