{"id":4470,"date":"2020-07-06T14:50:02","date_gmt":"2020-07-06T14:50:02","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=4470"},"modified":"2020-07-06T14:50:02","modified_gmt":"2020-07-06T14:50:02","slug":"canara-bank-bank-of-maharashtra-cut-mclr","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=4470","title":{"rendered":"Canara Bank, Bank of Maharashtra cut MCLR"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-1968247 size-large\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/05\/canara-bank-620x413.jpg\" alt=\"\" width=\"620\" height=\"413\" srcset=\"\" sizes=\"auto, (max-width: 620px) 100vw, 620px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-1968247 size-large\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/05\/canara-bank-620x413.jpg\" alt=\"\" width=\"620\" height=\"413\" srcset=\"\" sizes=\"auto, (max-width: 620px) 100vw, 620px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1968247 size-large\" src=\"https:\/\/images.financialexpress.com\/2020\/05\/canara-bank-620x413.jpg\" alt=\"\" width=\"620\" height=\"413\" srcset=\"https:\/\/images.financialexpress.com\/2020\/05\/canara-bank-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/05\/canara-bank-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/05\/canara-bank-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/05\/canara-bank-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/05\/canara-bank-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/05\/canara-bank-313x209.jpg 313w, https:\/\/images.financialexpress.com\/2020\/05\/canara-bank.jpg 660w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\"\/><\/noscript><\/noscript><span class=\"article-caption\">Three months MCLR rate has been revised to 7.45 per cent from 7.55 per cent, <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/canara-bank-stock-price\/\" rel=\"noopener noreferrer\">Canara Bank<\/a> said in a release.<\/span><\/figure>\n<\/div>\n<p>State-run Canara Bank and <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/bank-of-maharashtra-stock-price\/\" rel=\"noopener noreferrer\">Bank of Maharashtra<\/a> on Monday announced reduction in their marginal cost of funds based lending rates (MCLR) by 10 basis points and 20 basis points, respectively, across all tenors, effective July 7.<br \/>Bengaluru-based Canara Bank has cut its one-year MCLR to 7.55 per cent from 7.65 per cent earlier.<\/p>\n<p>Overnight and one-month lending rates have been cut by 10 basis points to 7.20 per cent each. Three months MCLR rate has been revised to 7.45 per cent from 7.55 per cent, Canara Bank said in a release. Pune-headquartered Bank of Maharashtra (BoM) has reduced one-year MCLR to 7.50 per cent from 7.70 per cent.<\/p>\n<p>Its overnight, one-month and three months MCLR have been cut to 7 per cent (from 7.20 per cent), 7.10 per cent (from 7.30 per cent) and 7.20 per cent (from 7.40 per cent), respectively. BoM has revised downwards its six months MCLR to 7.30 per cent from 7.50 per cent. \u201cThe reduction in our MCLR is aimed to support economic growth and industrial development,\u201d BoM said in a release. The lender has slashed MCLR for the fourth consecutive month.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/canara-bank-bank-of-maharashtra-cut-mclr\/2015143\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Three months MCLR rate has been revised to 7.45 per cent from 7.55 per cent, Canara Bank said in a release. State-run Canara Bank and Bank of Maharashtra on Monday announced reduction in their marginal cost of funds based lending rates (MCLR) by 10 basis points and 20 basis points, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4471,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-4470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/canara-bank.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/4470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4470"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/4470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/4471"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}