Tamilnad Mercantile Bank raises MCLR by 10 bps across tenures, effective Tue
This story was originally published at 13:52 IST on 6 July 2026
Register to read our real-time news.Informist, Monday, Jul. 6, 2026
--Tamilnad Mercantile Bank hikes MCLR by 10 bps across tenures
MUMBAI – Tamilnad Mercantile Bank Ltd. has hiked its marginal cost of funds-based lending rates by 10 basis points across tenures with effect from Tuesday, according to an exchange filing Monday. The revised MCLR will range from 7.70% to 9.35% for overnight to one-year tenures. The Reserve Bank of India's norms require banks to review their MCLR every month.
For the March quarter, Tamilnad Mercantile Bank had reported a net profit of INR 3.74 billion and a total income of INR 17.92 billion. At 1306 IST, shares of the bank traded at INR 764.50 apiece on the National Stock Exchange, down nearly 2% from Friday.
Tamilnad Mercantile Bank's marginal cost of funds-based lending rates for various tenures are as follows:
| Tenure | Revised rate (%) | Previous rate (%) |
| Overnight | 7.70 | 7.60 |
| One month | 7.70 | 7.60 |
| Three-month | 8.40 | 8.30 |
| Six-month | 8.95 | 8.85 |
| One year | 9.35 | 9.25 |
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Diksha Tripathy
Edited by Shubhayan Bhattacharya
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2026. All rights reserved.
To read more please subscribe
Share this Story:
