Now MCLR for 1-year tenor is at 7.80%, followed by 7.70% rate on six-month tenor and 7.55% on three-month tenor. While the bank kept MCLR of 7.45% and 7.10% on tenors like overnight and one-month.
In its filing, the bank said, "Further the ALCO has also resolved to keep the existing rate of Base Rate unchanged at 9. 70% and BPLR at 14.00%".
Although MCLR, Base Rate and BPLR are somewhat similar as they all are seen lending rate benchmarks, however, currently it would MCLR which is followed by the banks. MCLR was introduced in April 2016, replacing Base Rate and BPLR for fixing interest rates. However, existing loans were allowed to continue according to their respective benchmarks.
On NSE, the bank's stock ended at Rs12.90 per piece down by 0.77%. The stock has also touched an intraday high and low of Rs13 per piece and Rs12.60 per piece respectively.