The bank has cut the overnight and one-month MCLR by 0.10 per cent each to 7.90 per cent each.
These tenor based MCLR, for all new rupee loans and advances including renewals are to come to effect from November 15, 2017, the bank said in a regulatory filing.
For rest of the tenors, the bank has kept the MCLRs unchanged.
The MCLR mechanism was introduced into banking system in April 2016 as an alternative to the base rate, below which banks cannot lend, for new borrowers.
MCLR is calculated on the marginal cost of borrowing and return on net worth for banks.
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