New Delhi: State-owned Oriental Bank of Commerce (OBC) has cuts the marginal cost of funds-based lending rate (MCLR) by up to 0.10 per cent for various tenors with effect from Tuesday. "This is to inform that the bank has revised MCLR for different tenors with effect from June 11," the bank said in a regulatory filing. MCLR for one-month loan and 6-month tenor has been reduced by 0.10 per cent to 8.35 per cent and 8.60 per cent, respectively. Earlier, MCLR for one-month loan and 6-month tenor was 8.45 per cent and 8.70 per cent respectively. Likewise, for one-year tenor loans, MCLR has been decreased by 0.05 per cent to 8.70 per cent from 8.75 per cent earlier.

Source: Mint June 11, 2019 05:37 UTC