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Informist, Saturday, Jun. 6, 2026

 

--Tamilnad Mercantile Bk ups MCLR by 5 bps for overnight 1-mo, 3-mo, 6-mo 

 

NEW DELHI – Tamilnad Mercantile Bank Ltd. has raised its marginal cost of funds-based lending rates by 5 basis points for most tenures, the bank informed stock exchanges Saturday. The revised rates will be effective from Sunday, according to the exchange filing. 

 

The bank has raised the MCLR for overnight, one-month, three-month, and six-month tenures by 5 bps and left the MCLR for one-year unchanged at 9.25%. The revised MCLR will range from 7.60% to 9.25% for overnight to one-year tenures.

 

The Reserve Bank of India's norms require banks to review their MCLR every month. The RBI's Monetary Policy Committee Friday left the repo rate unchanged at 5.25%, having reduced the rate by 125 bps in 2025.

 

The Tamil Nadu-based lender reported a net profit of INR 3.74 billion for the March quarter, up 28% on year. On Friday, shares of the bank closed 0.3% lower at INR 745.90 on the National Stock Exchange.

 

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

 

Tenure	Revised rate (%)	Previous rate (%)
Overnight	7.60	7.55
One month	7.60	7.55
Three-month	8.30	8.25
Six-month	8.85	8.80
One year	9.25	9.25

 

End

 

Reported by Shweta

Edited by Deepshikha Bhardwaj

 

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