16
Aug
State Bank of India (SBI) has increased the marginal cost of lending rate (MCLR) by 10 basis points (bps), effective from today. The MCLR hike by SBI comes days after the Reserve Bank of India (RBI) left the repo rate unchanged at 6.5 percent. Overnight and one month MCLR have been increased to 8.2 percent and 8.45 percent respectively. The revised rate for six-month MCLR is 8.85 percent, which was earlier 8.75 percent. The bank will charge MCLR of 8.95 percent on one year loan. The revised MCLR on loans with tenures of two years and three years is 9.05…