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SBI reduces marginal cost-based lending rate by five basis points
Highlights
State Bank of India (SBI) has reduced its marginal cost-based lending rate (MCLR) by five basis points (bps) across all tenors with effect from today, May 10. This is the second time in the financial year.
State Bank of India (SBI) has reduced its marginal cost-based lending rate (MCLR) by five basis points (bps) across all tenors with effect from today, May 10. This is the second time in the financial year.
Earlier, SBI had announced a 5 bps cut on April 10, becoming the first lender to link interest rates on its savings accounts.The state-owned lender reported a net profit of Rs 838.40 crore in fourth quarter of 2018-19 fiscal on a standalone basis
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