Indian Bank revises Lending rate linked with Policy Repo Rate

9 Jun 2022 , 10:53 AM

Indian Bank Limited has informed that the Asset Liability Management Committee (ALCO) of the Bank has reviewed the Lending Rate for all Loans/Advances linked with Policy Repo Rate and revised the Lending Rate linked with Policy Repo Rate.

ALCO has revised the Repo Benchmark Rate from existing 4.40% to 4.90%.

Bank’s Repo Benchmark Lending Rate (RBLR) has been revised from 7.20% to 7.70%.

The bank further stated that other Benchmark Lending rates viz., MCLR, TBLR, Base Rate, and BPLR remain unchanged.

The new rates Repo Benchmark Rate, and RBLR will be effective from June 9, 2022.

At around 10.51 AM, Indian Bank’s counter was trading at Rs162.65, up by 0.12% against its previous close of Rs162.60 on NSE. The scrip opened at Rs162.50 and touched intraday high and low of Rs163.20 and Rs161.65 respectively.