The Punjab National Bank (PNB) and ICICI Bank hiked the MCLR rates for loan borrowers. Taking a cue from SBI, country’s second-largest private sector lender ICICI Bank also raised the one-year MCLR from 8.2% to 8.3%.
Source- The Times of India
Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
- MCLR stands for- Marginal Cost of funds based Lending Rate.