Bank of Baroda raises MCLR by 5 to 20 bps
In short
Bank of Baroda raised its MCLR by 5 to 20 basis points. This changes the lending rate used for some loans tied to MCLR.
The higher rate can make borrowing a little more expensive for customers with such loans.
What the reporting says
Bank of Baroda raised its marginal cost of funds-based lending rates by 5 to 20 basis points, according to the headline and available source evidence. The move increases lending costs linked to MCLR-based loans.
Why it matters
Bank of Baroda raised its marginal cost of funds-based lending rate by 5 to 20 basis points, affecting borrowers whose loans are linked to MCLR. The immediate market effect is a higher borrowing cost for affected customers.