Indian Bank announces cut of 5 basis points in MCLR for one-year tenure

State-owned lender Indian Bank has announced a cut of 5 basis points in its marginal cost of funds based lending rate (MCLR) for one-year tenure. The bank has decided to reduce the MCLR for one-year tenure by 5 basis points to 7.30 per cent effective from September 3, 2020, Indian Bank said in a regulatory filing.   All new retail loans (housing, education, vehicle), credit to MSMEs are linked to RLLR now. On Monday, the country's second largest lender Punjab National Bank (PNB) had rai...