At around 3.15 pm, the bank's stock was performing at Rs44.30 per piece, up 3.87% on Sensex. The stock has surged to the day's high of Rs44.40 per piece.
The new rates will come in effect from October 12, 2020.
The bank has trimmed 1-year MCLR to 7.50% from current 7.55%, while six-month MCLR will be at 7.35% from existing 7.40%.
MCLR for overnight tenor will be at 6.65% from current 6.70%.
However, MCLR remains unchanged for one month and three month tenor at 7.10% and 7.25% respectively.