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Weighted average lending rate on fresh rupee loans of SCBs was at 9.50% in October 2023

(01-Dec-23   12:10)

The Reserve Bank of India (RBI) stated yesterday that the weighted average lending rate (WALR) on fresh rupee loans of SCBs was at 9.50 per cent in October 2023 (9.38 per cent in September 2023). The WALR on outstanding rupee loans of SCBs moved to 9.84 per cent in October 2023 from 9.83 in September 2023. The 1-Year median Marginal Cost of Fund based Lending Rate (MCLR) of SCBs remained unchanged at 8.70 per cent in November 2023. RBI noted that the weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs moved to 6.31 per cent in October 2023 from 6.32 per September 2023. The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs was at 6.75 per cent in October 2023 (6.69 per cent in September 2023).

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