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News - Dec 2016
07th Dec 16 Bank of India reduces its MCLR by 5 basis points
Bank of India has reduced its one month and six month marginal cost of lending rate by 5 basis points to 9.05 and 9.15 percent respectively. BoB has also reduced its one year MCLR rate to 9.25 percent from 9.30 percent earlier. Revised rates are effective from 7th December, 2016.
07th Dec 16 Bank of Baroda cuts MCLR by 20 basis points
Bank of Baroda has reduced its overnight and three months marginal cost of lending rate to 8.80 and 8.95 percent from 9 and 9.15 percent respectively. The bank has also reduced its one and five year lending rates by 20 basis points to 9.05 and 9.25 percent from 9.25 and 9.45 percent earlier. Revised rates are effective from 7th December, 2016.
07th Dec 16 HDFC Bank reduces its MCLR by 5 basis points
HDFC Bank has reduced its overnight marginal cost of lending rate by 5 basis points to 8.65 percent from 8.70 percent. The bank has also reduced its one month lending rate to 8.70 percent from 8.75 percent earlier. The new rates are effective from 7th December, 2016.
07th Dec 16 IDFC Bank cuts fixed deposit rates up to 75 basis points
IDFC Bank has reduced its fixed deposit rates up to ten year tenure by 30 to 75 basis points. The rate for 46 to 90 days has been reduced to 6.5 percent. Similarly, fixed deposit rates for 366 days and two to ten years now stands at 7.5 and 7.20 percent respectively. New rates are effective from 7th December, 2016.
07th Dec 16 Corporation Bank bags Best MSME Bank award
Corporation Bank has received Best MSME Bank award 2016. The award was instituted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) at SMEs Excellence Award 2016 held at New Delhi on 6th December, 2016. Banks in this category were evaluated on the basis of growth, technology, innovation, CSR activity, targets and quality in MSME sector.
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