Homefinance News

    IDBI Bank raises its lending rates by 10 bps to 8.75%

    IDBI Bank raises its lending rates by 10 bps to 8.75%

    IDBI Bank raises its lending rates by 10 bps to 8.75%
    Profile image

    By Suman Singh   IST (Updated)

    Mini

    State-owned lender, IDBI Bank, on Wednesday, increased its marginal cost of lending rates (MCLR) by 10 basis points.

    State-owned lender, IDBI Bank, on Wednesday, increased its marginal cost of lending rates (MCLR) by 10 basis points.
    IDBI Bank increased the lending rates from 8.65% to 8.75% with effect from Friday (July 13), the bank said in a statement.
    The bank has also raised its base rate from 9.50% to 9.60%.
    Last month, India's top three banks in terms of lending, State Bank of India, ICICI Bank and Punjab National Bank increased their marginal cost of lending rates (MCLR) by 10 basis points, with effect from June 1, 2018, ahead of the Reserve Bank of India (RBI) policy meeting.
    Insurance Regulatory Development Authority of India (IRDA) on June 29 has cleared the proposal by Life Insurance Corporation to acquire up to 51% stake debt-ridden IDBI Bank.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng