Saturday, 2 April 2016

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South Indian Bank sets overnight MCLR rates at 9.50% 

South Indian Bank declared its marginal cost of funds based lending rate (MCLR) for one year at 10 per cent. As per RBI guidelines, the bank has approved MCLR for all Rupee loans sanctioned with effect from April 1st 2016. 

The bank has declared MCLR other tenors — overnight (9.50 per cent), one month (9.55 per cent), three months (9.60 per cent) and six months (9.75 per cent).

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South Indian Bank Ltd ended at Rs. 18.25, up by Rs. 0.65 or 3.69% from its previous closing of Rs. 17.6 on the BSE.

The stock traded above its 200 DMA.

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