HDFC bank on Wednesday increased the marginal cost of funds-based lending rates (MCLR) by 10 basis points to 8.20%. This is the fifth consecutive hike in MCLR rates by the bank starting from April.The bank will offer overnight rates at 7.9%. However, for one month, three months and six months, the MCLR rates will be 7.90%, 7.95% and 8.05%, respectively, the bank said on its website.Earlier this m...

Kotak Mahindra Bank on Tuesday raised its marginal cost of funds-based lending rates (MCLR) by 5 basis points (bps) across all tenures. The bank’s one-year MCLR now stands at 8.10%, effective August 16.This is the seventh consecutive increase in the MCLR by the bank with steeper hikes of 25 bps in May and an increase of 20 bps each in June and July. The bank’s shorter-tenure lending rates now...

HDFC (Housing Development and Finance Corporation) has announced a 25 bps hike in the retail prime lending rate (RPLR) on housing loans. The benchmark lending rate for home loans has been raised by 0.25 per cent, and the new rate will come into effect from today (August 9), HDFC said in a regulatory filing. The rate hike comes three day after the Reserve Bank of India announced 50 bps hike in repo...

Some of the major banks including the State Bank of India (SBI), Axis Bank, Kotak Bank, and Bank of Baroda have raised their MCLR by 5-10 basis points (bps). Banks have hiked lending rates for the first time in around three years. Other banks are also likely to increase their lending rates in the coming days.If the MCLR is hiked, how will it impact borrowers?Major lenders like SBI, Kotak Bank, Axi...

The Mahanadi Coalfields Limited (MCL), a unit of the CIL, has crossed 157 million tonne (MT) in coal production in the financial year of 2021-22, to become the leading coal producing company in the country, a release said. On March 12, 2022, the company produced 7.62 lakh tonne of dry fuel which is the highest in a day during the current financial year reaching 157.7 MT with a growth of around 16...