SBI cuts MCLR by 5 bps across tenors, effective February 10

The reduction in MCLR by the bank comes a day after the Reserve Bank of India (RBI) left the repo rates unchanged at 5.15 per cent but announced long-term repo operation for up to Rs 1 lakh crore, making cost of funds cheaper for banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2SqB6L9