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Informist, Friday, Feb. 28, 2025

--RBI: Weighted average rate on new bank loans 9.32% Jan vs 9.25% Dec 

--RBI: Weighted average rate on new bank deposits 6.56% Jan vs 6.57% Dec

MUMBAI – The weighted average rate on fresh rupee loans of scheduled commercial banks was 9.32% in January, up 7 basis points from 9.25% in the previous month, data released by the Reserve Bank of India on Friday showed.

The weighted average rate on fresh rupee loans of public sector banks rose 5 basis points on month to 8.59%, while those of private banks increased 4 bps to 10.20% in January. However, the weighted average lending rate of foreign banks fell by 1 bp to 9.27%.

The weighted average lending rate on outstanding rupee loans of scheduled commercial banks eased by 1 bp on month to 9.85% in January. The one-year median marginal cost of fund-based lending rate of scheduled commercial banks rose to 9.05% in February from 9.00% in January.

The weighted average rate on fresh rupee deposits of scheduled commercial banks for January was 6.56%, against 6.57% in December. The weighted average rates on fresh deposits of public sector banks remained unchanged on month at 7.06% in January, while the rates of private sector banks edged lower to 6.49% in January, from 6.53% in the previous month.  End

Reported by Vidhushi RajPurohit

Edited by Ashish Shirke

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