State Bank Of India Cuts Key Interest Rate For Loans Up To 3 Months

State Bank of India (SBI) on Wednesday announced a reduction in key lending rates for short-term loans, in a bid to boosts credit off-take and revive demand. The country's largest bank by assets said its MCLR or Marginal Cost-based Lending Rate will stand reduced by 5-10 basis points to 6.65 per cent for shorter tenors from July 10. That marked the fourteenth consecutive reduction in its MCLR, according to State Bank of India. The cu...