Indian Bank reduces 1 year MCLR to 7.30%

The Asset Liability Management Committee (ALCO) of Indian Bank in its meeting held on date reviewed the existing Marginal Cost of Funds Based Lending Rates (MCLRs) of the Bank and decided to reduce the MCLR for one year Tenor by 05 basis points effective from 03.09.2020.

The Overnight MCLR has been kept flat at 7.05%, 1 month MCLR at 7.10%, 3 months MCLR at 7.25% and 6 months MCLR at 7.30%. The 1 year MCLR has been reduced from 7.35% to 7.30% from Sep 3, 2020.

Shares of INDIAN BANK was last trading in BSE at Rs.65 as compared to the previous close of Rs. 64.9. The total number of shares traded during the day was 183943 in over 1875 trades.

The stock hit an intraday high of Rs. 65.6 and intraday low of 63. The net turnover during the day was Rs. 11816517.

Source : Equity Bulls

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