SBI News

SBI raises lending rates

State Bank of India (SBI) on March 1 increased the marginal cost-based lending rates (MCLR) across various maturities, effective immediately. It is the first rate hike in the 1-year MCLR since the inception of a new lending rate system in April 2016, according to Thomson Reuters data. The rise in lending rates generally hints that EMIs (equated monthly installments) will go up. SBI, which accounts for...

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