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Informist, Monday, Jun. 1, 2026

--Indian Bank ups MCLR by 10 bps for 3-mo, 6-mo, 1-yr tenures, effective Wed 

NEW DELHI – Indian Bank has raised the marginal cost of funds-based lending rates by 10 basis points for the three-month, six-month, and one-year tenures, effective Wednesday, the bank said in an exchange filing Monday. However, the MCLR for overnight and one-month tenures remains unchanged. The bank's revised MCLR now ranges from 7.90% to 8.85%.

The Reserve Bank of India's norms require banks to review their MCLR every month. The Chennai-based lender also increased the three-month-to-three-year Treasury bill-linked rate by 10-15 bps. The bank's revised Treasury bill-linked rates now range from 5.35% to 5.75%. 

Indian Bank reported a net profit of INR 31.03 billion in the March quarter. Total income for the quarter was INR 199.80 billion. The bank's shares closed at INR 809.75 on the National Stock Exchange Monday, down 2.8% from Friday.

Indian Bank's marginal cost of funds-based lending rates for various tenures are as follows:

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Reported by Pratiksha

Edited by Rajeev Pai

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