Indian Bank — Important, 29-11-2024: Updates

The Asset Liability Management Committee (ALCO) at Indian Bank has revised the Marginal Cost of Funds based Lending Rate (MCLR) and Treasury Bills Linked Lending Rates (TBLR). The updated MCLR rates for tenors greater than three months to one year have increased from 6.55% to 6.60%, while the rates for tenors greater than one year remain unchanged. The revised TBLR for tenors over one year also increased from 8.60% to 8.65% for three months and from 8.85% to 8.90% for six months.

The revised rates are effective from December 3, 2024, indicating a marginal cost adjustment aimed at enhancing lending margins and responding to market conditions. This could have implications for borrowers, potentially increasing their interest costs. Investors should monitor this development closely as it may impact overall lending activity and profitability within the banking sector.