Hindusthan Samachar
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UCO Bank reduces its MCLR from this month

By HindusthanSamachar | Publish Date: Apr 13 2019 4:54PM
UCO Bank reduces its MCLR from this month
Kolkata, Apr.13 (HS): Kolkata headquartered public sector UCO Bank has reduced its Marginal Cost of Funds Based Lending Rates (MCLR) by 5 to10 basis points across various tenors, with effect from 10 April. Announcing this UCO Bank sources informed Hindusthan Samachar here today that the revised one-year MCLR would now stand at 8.65 per cent, down from 8.70 per cent earlier. ‘The Bank has also reduced its overnight MCLR by 10 basis points to 8.05 per cent from 8.15 per cent earlier’, the sources said adding that the revised one-month,three-months and six months tenor MCLR would now stand at 8.20 per cent, 8.30 per cent and 8.55 per cent respectively,which was 5 basis points lower than their earlier levels. The announcement came after the Reserve Bank of India slashed the Repo Rate by 25 basis points from 6.25 per cent to 6.00 per cent, they further informed and added that the Bank had now decided to ‘pass on the benefits of the rate cut by RBI to its borrowers to help the MCLR linked loans become cheaper’. Hindusthan Samachar/Ankur/Pramod \
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