08th Oct 16 Small Scale Industries - RBL Bank, NeoGrowth and OPIC sign pact to finance SME in India
RBL Bank, Neo Growth Credit Pvt. Ltd and Overseas Private Investment Corporation (OPIC), the U.S. Government development finance institution have jointly committed to provide financing for small and medium enterprises (SMEs) in the Indian retail space. RBL Bank loan will allow Neo Growth to provide loans ranging from Rs. 200,000 to 7,500,000 to the retail SMEs.
22nd Sep 16 Ratnakar Bank has reduced its MCLR from 22nd September, 2016
Ratnakar Bank has reduced its Marginal Cost Based Lending Rates (MCLR) across maturities, effective from 22nd September, 2016. The overnight, 6 month and 1 year has been reduced by 15 basis points to 10.00, 10.35 and 10.40 per cent respectively. The 1 month and 3 month MCLR has been reduced by 20 basis points to 10.00 and 10.15 per cent respectively. Similarly, 2 year MCLR has reduced by 10 bps to 10.40 per cent and 3 year MCLR reduced by 5 bps to 10.50 per cent. For borrowers who have taken floating rate home loan from Ratnakar Bank after April 1, 2016, the reduction in MCLR will translate into a reduction in their home loan rates.