Interest rates on select retail loans, excluding home loans, are rising as banks adjust their marginal cost of lending rates (MCLR). While the RBI has kept the repo rate unchanged since February 2023, loans such as auto and personal loans not linked to the repo rate, are affected. SBI and other banks have increased rates, citing increased fund costs and market tightness.
from Banking/Finance-Industry-Economic Times https://ift.tt/quyXUSi
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