In a regulatory filing, the bank said, "We hereby inform that as per the Guidelines of Reserve Bank of India, our Bank has reviewed the Marginal Cost of Fund Based Lending Rate (MCLR) for different tenors and the same will be effective from 16.10.2020."
With that, MCLR for 1-year tenor will be at 7.70%, while the benchmark lending rate would be 7.60% on six-month tenor.
7.50% MCLR would be on three-month tenor, and 7.30% MCLR is set on one month tenor. For overnight, the MCLR would stand at 7.05%.
Further, the bank said, ALCO has decided to keep the existing Base rate and BPLR unchanged at 9.70% & 14.00% respectively.
On Sensex, the bank's stock completed at Rs10.51 per piece down 1.50%.