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RBI allows one-time recast of standard MSME accounts

Wednesday, January 2, 2019, 7:35 AM

The Reserve Bank of India (RBI) on Tuesday offered a new year gift to micro, small and medium enterprises (MSMEs) by allowing a one-time restructuring of existing loans that are in default but "standard" as on January 1. The facility could provide a timely support to scores of MSMEs hit by the double whammy of note ban and GST.
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Karnataka Bank revises up 1-year MCLR by 0.15%

Tuesday, January 1, 2019, 10:24 PM

Private sector lender Karnataka Bank on January 1 said it has revised upward MCLR by 0.15 percent to 9.10 percent for one-year tenor. The revised marginal cost of fund-based lending rate (MCLR) are effective from January 1, 2019, the bank said in a regulatory filing. One-month and overnight MCLRs were also raised by 0.10 percent each, the bank said.
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SBI hikes MCLR by 5bps to 8.55% across tenures

Tuesday, December 11, 2018, 4:56 PM

State Bank of India (SBI) hiked its MCLR by 5 basis points (bps) across all tenures. The lender's one-year MCLR now stands at 8.55% while those for other tenures range between 8.55% and 8.75%. The move comes after HDFC Bank on Friday hiked its short-term MCLR by 5 bps to 8.40% 8.45% and 8.55% for the one-, three- and six-month tenures, respectively.

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