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Canara Bank eases overnight, 1-month MCLR by 5 bps
Image source: economictimes.indiatimes.com

GK and monthly revision

Canara Bank eases overnight, 1-month MCLR by 5 bps

Canara Bank has lowered its one-month and overnight MCLR (Marginal Cost of Funds-based Lending Rate) by 5 basis points, effective February 12. This move will lead to reduced borrowing costs for customers and aligns with the RBI's aim for transparent interest rate transmission amidst growing credit demand. This is a significant development in the banking and finance sector that can be relevant for competitive exams.

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