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Banks: MCLR Update – June 30, 2016


As a follow-up note on MCLR (Marginal Cost of funds based Lending Rate) and how it is changing the way banks lend in India, we are publishing the rates of 34 SCBs (Scheduled Commercial Banks) as on June 30th, 2016. According to RBI’s mandate, Banks have to review and publish their MCLRs each month.

Please click here to check our previous update on MCLR Rates for May 2016.

We have created a MCLR Bank Base Rate Tracker, where the rates of 34 major banks are presented. The rates include:

  • Important RBI Rates (repo rate, reverse repo and MSF);
  • Base Rate;
  • MCLR (of varying tenors);
  • Deposit Rate (for amounts less than Rs. 1 cr., between 1 and 2 years)

This is how the Top 10 banks stand, vis-a-vis the above criteria:

MCLR Update June 2016

P.S. The ‘Overnight’, ‘1-mth’, ‘3-mth’, ‘6-mth’ and ‘1-yr’ rates relate to the MCLRs for those tenors. Note how Kotak Mahindra bank is the only one which is still keeping their Base Rate below their 1-yr MCLR.

Related Links:

Banks Are Not Benefiting From The Rate Cut: They Are Not Borrowing From The RBI

Cash Reserve and Liquidity Ratios: A Primer

Concepts: Why is the RBI Buying Rupee Bonds?

What Are Forex Reserves?

What is the “Balance of Payments”?



Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion. 

Disclosure: The authors at Capital Mind have positions in the market and some of them may support or contradict the material given above, or may involve a direction derived from independent analysis.



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