Udayavni Special

Canara Bank to cut repo-linked lending rate by 75 bps

PTI, Apr 6, 2020, 5:53 PM IST

Mumbai: State-owned Canara Bank on Monday said it will reduce its repo linked lending rate (RLLR) by 75 basis points to 7.30 per cent from April 7.

The lender has announced to reduce its marginal cost of funds based lending rates (MCLR) by up to 35 basis points across tenors, effective April 7.

The one-year MCLR has been cut by 35 basis points to 7.85 per cent, and for six-month by 30 basis points to 7.80 per cent.

Three-month MCLR has been revised lower by 20 basis points to 7.75 per cent.

Canara Bank, which amalgamated Syndicate Bank with itself on April 1, said the new rates will be applicable for the amalgamated entity.

Banks such as SBI, Bank of Baroda, Punjab National Bank, Union Bank, among others have already reduced their RLLR following 75 basis points cut in repo rate by the Reserve Bank of India late last month.

Top News

COVID-19: 3 Qatar returnees in DK, 3 Maha returnees in Udupi test positive; state toll rises to 2282

Cyclone Amphan a blessing in disguise for lockdown-hit jobless labourers in West Bengal

COVID-19 death toll in India climbs to 4,167

WHO suspends COVID-19 trials of HCQ over safety issues

Udupi: Three-month-old video goes viral; DC clarifies

Bengaluru: Govt schools in Malleshwaram to soon be exposed to e-learning, says Ashwath Narayan

COVID-19: India now among 10 worst-hit countries

Related Articles More

TVS Motor implements temporary pay cuts for employees

ITC to acquire spice-maker Sunrise Foods

Siyaram sets Guinness World Record for online Textile Mahakumbh

Prices of N-95 masks down by up to 47% after NPPA advisory

ILO expresses deep concerns over labour law suspension, tweaking to PM


Tragedy and chaos: Former MIA director recalls Mangalore Air Crash

Lockdown relaxation: Long queues outside liquor stores in Mangaluru

Indian Coast Guard thank Covid-19 warriors

#WeFeed – Feeding stray animals during lockdown!

Mysuru-origin doctor honoured with parade for her service in treating COVID-19 patients in US

Latest Additions

Cricket runs risk of becoming boring following saliva ban, warns Starc

Nothing changes for Akshay Kumar during lockdown: Nikkhil Advani

What are Locusts and Why should India be Worried?

Bengaluru: KSRTC bus driver COVID-19 positive

COVID-19: 3 Qatar returnees in DK, 3 Maha returnees in Udupi test positive; state toll rises to 2282

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.