Current Affairs - Banking - Discussion

Discussion Forum : Banking - Latest Current Affairs (Q.No. 1517)

2019-06-13 Banking

1517.

IDBI Bank reduced its Marginal Cost of funds based Lending Rate (MCLR) by 5-10 basis points to __________.

9.12%

6.82%

7.62%

8.95%

Answer: Option

Explanation:

Life Insurance Corporation of India (LIC)-owned IDBI Bank reduced its Marginal Cost of funds based Lending Rate (MCLR) by 5-10 basis points to 8.95% across various tenors with immediate effect on June 12. Against one-year MCLR most of the customer loans such as auto, personal and home loans are priced.