Bank of Baroda on February 9, announced that the marginal cost of funds based lending rate (MCLR) will be increased from February 12, 2023. This comes a day after the Reserve Bank of India increased the repo rate by 25 basis points.
The overnight MCLR will be increased to 7.90 per cent from its earlier 7.85 per cent, whereas the one month MCLR has been increased from its earlier 8.15 per cent to 8.20 per cent. The MCLR for three months was changed to 8.30 per cent from the earlier 8.25 per cent. The six month and one year MCLR from February 12 will be at 8.40 per cent and 8.55 per cent respectively.
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On Thursday, the shares of Bank of Baroda Limited closed at Rs 169.70, up by 1.01 per cent.
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