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Bank of India has revised its Marginal Cost of Fund based Lending Rate (MCLR) effective August 1st. The Overnight MCLR has decreased to 7.95% from 8.10%, and the 1-Year MCLR is now 8.90% from 9.00%. Other MCLR tenors, Repo Based Lending Rate (RBLR), and Fixed Rate Spread (FRS) remain unchanged. This adjustment primarily lowers lending rates for new variable-rate loans, potentially affecting the bank's net interest margin on new business but could support credit demand.