Key Points
State Bank of India (SBI), country's largest lender, has raised its marginal cost of funds based lending rate (MCLR) by 5 basis points (bps) across all tenures, a move that will lead to an increase in EMIs for borrowers..
With the increase, EMIs will go up for those borrowers who have availed loans on MCLR, not for those, whose loans are linked to other benchmarks...
The revised MCLR rate is effective from July 15, as per the information posted on SBI website...
The impact of the introduction of external benchmark-based pricing of loans on monetary transmission has been felt across various sectors, encompassing even those sectors that are not directly linked to external benchmark-based loan pricing.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..
