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Informist, Thursday, Mar. 27, 2025
--RBI: Weighted avg rate on new bank loans 9.40% in Feb, up 8 bps from Jan
--RBI: Weighted avg rate on new bank deposits 6.48?b, down 8 bps from Jan
MUMBAI – The weighted average lending rate on fresh rupee loans of scheduled commercial banks was up 8 bps at 9.40% in February, from 9.32% a month earlier, data released by the Reserve Bank of India on Thursday showed.
Lending rates for public sector banks on fresh loans rose higher than private sector banks on a month-on-month basis, the data showed. The weighted average lending rate of public sector banks rose 9 basis points on month to 8.68% while those of private banks were up by 4 basis points to 10.24% in February. Weighted average lending rate of foreign banks fell by 10 basis points to 9.17%.
The weighted average lending rate on outstanding rupee loans for scheduled commercial banks fell by 7 basis points on month to 9.80% in February. The one-year median marginal cost of fund-based lending rate of scheduled commercial banks declined to 9.00% in March from 9.05% in February.
The weighted average domestic term deposit rate on fresh rupee deposits fell 8 bps on month to 6.48% in February. The weighted average domestic term deposit rates on fresh deposits of public sector banks slipped 6 bps on month to 7% while the rates of private sector banks were up 2 bps to 6.51% in February. The weighted average deposit rates on outstanding rupee term deposits was unchanged from a month ago at 7.02%. End
Reported by Ashna Mariam George
Edited by Subhojit Sarkar
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