State Bank of India(SBI), the country's largest lender, on Thursday March 01,2018 increased marginal cost-based lending rates (MCLR) across most maturities, effective immediately. SBI raised the key one-year MCLR or benchmark rate to 8.15 per cent from 7.95 per cent, according to a notification from the bank.
This is the first time SBI has raised the one-year MCLR or benchmark rate since the inception of a new lending rate system in April 2016.
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