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Bank of Maharashtra (BoM) has increased its marginal cost of funds-based lending rate (MCLR) by 10 basis points across all tenors with effect from April 15.
Following the revision, the six-months and one-year MCLR are at 8.40 per cent (8.50 per cent earlier) and 8.50 per cent (8.40 per cent), respectively.
MCLR is the internal benchmark for pricing of corporate loans for banks. The share of MCLR-linked loans in total loans stood at 46.1 per cent as at December-end 2022 for the banking system.
The share of external benchmark linked (retail and MSME) loans in total loans stood at 48.3 per cent as at December-end 2022 for the banking system, per RBI data.
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