Bank of Maharashtra increases MCLR rate by 20 bps

10 Oct 2022 , 01:16 PM

The overnight MCLR increased from 7.10% to 7.30 and MCLR for one month rose from 7.25% to 7.45%. The interest rate on the three month MCLR was raised from 7.40% to 7.60%, followed by the six month MCLR rate increased from 7.50% to 7.70%. The one year MCLR rate was raised from 7.60% to 7.80%. The revised rates will be effective from today itself, 10 October 2022. The state-run banks net profit rose 117.2% to Rs 541.90 crore on 0.4% decline in total income to Rs 3,774.32 crore in Q1 FY23 over Q1 FY22. Bank of Maharashtra is a public sector bank in India. The Government of India held 90.97% stake in the bank as of 30 June 2022. The scrip rose 0.27% to currently trade at Rs 18.30 on the BSE. Powered by Capital Market – Live News